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Smart Money




            Case Study (cont.)
            properties to make sure that they could stand on their own.  The
            properties didn’t achieve the values required, therefore were not able to
            stand alone, and she had to pay some of the profits from the sale of her
            own home into her investment property loans.
            If she had contacted us first, we could have advised her of all of this. The
            key takeaway from this is don’t do anything, ever, before speaking to a
            quality mortgage broker.


           It is always hard when those you trust, like family and friends, give you
           advice. You should take their advice to a professional. You are potentially
           going to get very different advice; some of your family and friends’ advice
           is going to be right, and some of it is going to be wrong. If you think that
           it sounds right, ask a professional about it. The best thing to do is to speak
           with a professional first. Don’t discuss it with your family and friends
           until you have all the information and are more educated about your
           home loan options. Then you can tell your family and friends, and when
           they come to you with their information, you are going to know what
           to believe and what not to believe. And if you are unsure, again, consult
           your broker.

           Sometimes it is not necessarily bad advice or the wrong advice for the
           person giving it to you, but it is the wrong advice or bad advice for you.
           Everyone’s situation is different and your friend’s situation might be
           completely different to yours. Their broker may have said XYZ for them,
           but XYZ may not be good for your situation. That is why it is always good
           to speak to your broker. It is not so much that the information they have
           given you is wrong, it is just wrong for you.

           ‘Set and forget’ missed opportunities.

           Quite often, clients make payments on their home loan every month and
           don’t actually pay attention to what is going on out in the marketplace.
           There are promos and discounted rates available, but they think that once




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