Yellow Brick Road: Home
YBR

Andrew Morello: Golden Rules for Paying Off Your Loan

In this article:

An excerpt from Andrew Morello's eBook The Morello Matrix: your guide to property investment. Andrew, the winner of the first series of Celebrity Apprentice Australia, provides his comprehensive personal approach to buying real estate and building a property portfolio.

To get your free copy of the full Morello Matrix eBook visit  www.ybr.com.au/morellomatrix

Add extra repayments 

Pay more into the mortgage, by starting with adding $500 per month.

Fortnightly repayments

Make the change to fortnightly repayments, rather than monthly.

Pay every bonus into the mortgage
Pay every additional payment your receive such as tax refunds and work bonuses straight into the mortgage.

Take the first step

Don’t be tempted
Avoid buying new cars (or any cars) with the loan. Over time, these savings mean you’ll be able to buy nicer cars all the time or more importantly build up wealth from property much, much faster.

Add everything
Once you have your first property, it is time to supercharge the growth in equity to leverage into a second property.

Me?
I throw everything but the kitchen sink into these strategies. I put every spare penny into the mortgage. I find a mortgage broker to find me the best refinancing deal, including a lender hungry for my business or who is a believer in the area

I’ve bought in.

Feature articles

3 New-Year Property and Mortgage Resolutions Want to kickstart 2021 the right way? Here are some great mortgage saving opportunities.

Ways your Broker can help after a Mortgage Settlement Monitoring your mortgage is necessary to capitalise on saving opportunities and new loan features as well as ensuring that your interest rate is competitive. Here's how a broker can help you do this.

7 Home Loan Rejection Reasons despite a Preapproval Right from changing your job to an increase in online spending - here's a list of mistakes you should avoid after a preapproval to prevent your home loan application from getting rejected.

Pros and Cons of Property Auctions As property auctions become more popular, here's a list of things you need to keep in mind to prep well as a buyer.

Impact of Proposed NSW stamp duty changes on buyers The recently announced proposed Stamp duty changes by the NSW government gives buyers two options - a one time payment or a yearly tax. Here's what you need to know before you make a choice.

View all articles



Enquire now