#THREAD As a new investor, what do you need to look for? How do you start investing? Here are a few tips, ideas and opinions.
#1 Finances - did you pay off your bad debt? If not, get rid of bad debt. It's better to be worthless than to be worth - R 1 000 000 000 000.
Be careful when investing if you have debt, especially in South Africa. The debt will overpower your investments and drain your resources
#2 Do you have an emergency fund in place? If yes, then wonderful - you can invest. If not, head over to this link and learn why you need this in place. frugallocal.co.za/2018/12/04/eme…
#Thread About Getting a bond and considered rental income. As in the blog post link below, the bank wants to know if you can afford and pay back the money you will owe them through a mortgage.
You need some form of monthly income that you can prove to the bank that you are able to pay them back, whether that be through passive income (dividends or rental income) or through active income such as a job.
In general, banks favour employment sadly.
If you do have rental income, you will need a contract with rent being paid into your bank account for a minimum of 6 months - then the bank will consider 70% of this rental income as part of your gross income.