I Use this Access bond for my properties in South Africa
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- čas přidán 5. 07. 2024
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I Use this Access bond for my properties in South Africa
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DISCLAIMER: I`m not a financial advisor and hence the content of these videos are for educational and entertainment purposes only. Investing is a risk related practice and should be approached carefully.
Were you aware of these two access bond options ?
Yes, American versions but I was curious to know about ours
Louis can you refinance your current propety while simultaneously buy a new property to access funds for bond costs and building repairs ?
Yes and no, you will first have to refinance so that the funds are available, once its available, you can secure the second property. Sometimes theres delays and stuff that don't go according to plan, so make sure you dont rush things and take it slow.
Thanks for sharing 💪🏻
Hey Louis, I've been very fortunate to have stuck out a career in luxury yachting. I'm at a point in my career where I would like to really start working for that passive income. No more fancy travel plans and expensive courses to pay for 😂. Considering my earnings being really good, I just don't know how to go about smashing goals quick, which strategy would be best to use etc. I do understand you have a course and I hope to find time to get involved. I do however want to know if you do more than just an hour one on one with the course? Do you offer personalized mentorship or an advisory phone call to discuss which strategy you would use of you were a high earning individual.
If you love Louis, like this comment. Should be our Finance minister 🇿🇦
Under which government 😂
😆😆💪🏻
Thank you louis for listening to your listeners and bringing us this video ❤
Thanks for the continuous support and for the recommendations. Always keep learning 💪🏻💪🏻
Hi Louis... Thank you for explaining this and simplifying it.
It's a pleasure. Thanks for watching 👊🏻
Insightful, thank you.
Thanks for watching 💪🏻💪🏻
When you refinance the property, it is essentially a new bond which replaces the old one as a higher value. Do you need to pay for bond registration again? I have been wondering about this, I bought my first property last year and I am looking into refinancing to secure the second one to begin with some growth. Thanks for posting this video, I hadn't considered what refinancing does with the different loan options.
Does ABSA also have that 2 options, or only std bank. I only know the 1st one. How much is your mentorship costs, and what does it include
All banks have these options. Theu just call it something else.
You can consider my property course as it holds a lot of value and important information. This is the best way to learn all the necessary skills to be a successful investor.There is also a mentoring option available, which is the most popular option.
To secure your spot, simply click payhip.com/LouisReynhardt and follow the easy registration process.
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These options you mentioned are with Standard Bank and option 2 states that it will lower your monthly repayment BUT your access amount will be reduced over time as you are taking this benefit in a lower monthly installment. So what now because you will in return loose the access money?is this true.
Yes thats correct
Your access to the money will reduce over time, but it's with small amounts. The idea would be to never actually settle the debt and keep reinvesting the money/equity in the bond. The other options is the opposite.
We buying the course next month💪🏾this guy doesn't miss🎯
Thanks my friend. Looking forward to have you on board 💪🏻💪🏻
Hi Louis,
Could you please make another video explaining how access bond link 2 terms and conditions change when you decide to use access bond funds.
Does your monthly payment increase or there's an option to not increase your monthly payments but increase payment period (e.g 20 years to 25 years)?
So if you use some of the funds your repayment amount will only go up with the amount you used. Your loan term will still stay the same. If you use R100k your premium will go up with about R1k per month. If you only use R20k it will go up with R200 per month etc.
Thoughts on using the money available in an access bond of your primary to buy an investment property? It is not clear whether you can use the interest paid per month toward reducing your tax liability.
Great question,
It all depends on how it is set up. Is it in your own name or a trust or company ? The structuring will depend on how you can approach it. But it makes sense to buy an investment property as long as it can generate enough money to pay for the loan from your primary residence.
@@louisreynhardt it is set up in my own name and the purchase will likely also be in my name.
I think you wrong... My payment stays the same even though the loan amount is half paid. The extra money that goes is it's available to me...
I think you just have the first option selected. Maybe you missed that points of the video
Whats happening with easy equity not allowing me to login please advise another app
Depends on the error?
You can however use this platofrm
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hello sir. I want to join your learning program.
Thank you for your comment and for taking the steps to learn the necessary skills.💪🏻🏠
The property course holds a lot of value and important information. This is the best way to learn all the necessary skills to be a successful investor.There is also a mentoring option availabl, which is the most popular option.
To secure your spot, simply click payhip.com/LouisReynhardt and follow the easy registration process.
1:32 Do you earn interest on a access bond?
Not the same way like a traditional savings account. You effectively save the amount in not paying that interest portion.
Hi Louis
What is your take on FNB one account
Dont know too much about it, but im all for reward programs. Actually, I think FNB has the best rewards by far.
I made a dumb decision, I have a bond and last year I did renovations using a personal loan instead of extending my bond which would have been cost effective and now I’m trying to restructure the loan and make it a bond and my bank is refusing 😫 any advice?
Is the property paid off ? Or is the loan still open ?
@@louisreynhardtStill open, paid 3 of the 20 years, so it’s still fresh
@nakedimanyane, you can always refinance and settle the higher personal loan debt with the home loan debt with the lower interest rate. Feel free to email me if you need help, and we can book a 1 on 1 session 💪🏻
@@louisreynhardt I will book a session, thanks 🙏🏾
Ouch
When you say you refinanced the property for R450 000 but you only pay the bond for the R310 000 and have access to the R130 00, how does that work? How come you arent paying for the R450k you refinanced? Or is that because you chose the Link 2 access bond? The R130k will reduce over time during the repayment period?
Thanks!
That's correct. If you chose optoon 1, you will pay for that money, but the loan term will be reduced
@@louisreynhardt Ok great thanks very much for.
I suppose this is what people mean when they re-finance or re-mortage their house to pay for renovations etc? But in this case you wouldnt use that R130k right away.
@DarkRiderMotovlogs Exactly,
You can use that money for a deposit on a second property or to pay for transfer and registration cost or even to go on vacation ( i don't recommend the last one 🤣)
@@louisreynhardt Haha ok cool thanks for that. I need to do a bunch of home renovations/ fixes so looking into this.
My bond is only 2 years old though (R2.2m) would this matter at all?
@DarkRiderMotovlogs pleasure my friend.
Yes it does matter you have to have available equity before you can do this or you need additional funds to pump into you AB.
Have you seen my refinance videos ?