Hi Jac,100% rented at $240/week = $12480LessNotional 10% property management costs = $1248Notional rates allowance                                 = $2000Notional insurance allowance                         = $1000Interest bill @7%                                                = $16800Notional Contingencies Allowance                = $1000Shortfal…[Read more]

GavrossDon't understand, if you owe 120k @7% = 8,400 P/A + 5,000 in costs =13,400 costs. Rental income 17,160 + interest payment from gov 1,440p/a = 18,600 income. Is it not cf+ already.As well you equity should give you a lot more than 30k if you owe 120k and the value is 350k, should be around 180kBarry

Hey Marc,
Thanks Heaps it just shows you I have a lot to learn.
Many Thank’s
DazOriginally posted by L.A Aussie:
Originally posted by daz61:
HI Everyone,
Today I went to an auction in my street,there was not 1 bid but someone had put an offer in subject to finance 465k after the auction. The home is 8 yr’s old 34 sq dbl storey,dble garage on 2300…[Read more]

Originally posted by daz61:
HI Everyone,
Today I went to an auction in my street,there was not 1 bid but someone had put an offer in subject to finance 465k after the auction. The home is 8 yr’s old 34 sq dbl storey,dble garage on 2300 sq mtrs Narre WarrenNth. I beleive If I spent 20 – 25k I could resell at 530 – 550k. Does this sound ok or not,…[Read more]

hi Nat R
until you start to look you are very surprised at the level of the market that is out there that is either above, below or outside the asic arena for me it real unbelievable some times.
a very slight change here or a different way of doing it over there and it out side and once its outside it sailing heaven.
example
lending
house loan(…[Read more]

JD,

I have a dual key unit in Spring Hill which I bought about 2.5 years back. I think our investments will do well over time.There’s a lot of -ve and +ve talk about Brisbane CBD.I’m for the +ve.Incidently I have also bought another, off the plan due for completion 06.

The figures u state are intersting. It would appear that you think u have…[Read more]

Solution?

HOw about this:

A) Lease OPtion:
****************
1. Offer the owner $5K (as a lease option fee= $18,000 strike price) to relocate. – Comes off the price of course if option is excercised .

2. Pay $60/week to her to look after her outstanding mortgage.(estimated cost to her is $26/week based on 16K@7% on 25yr term)

3. Of the…[Read more]

Hi Leswon,

There are a number of reasons why I use I/O for all of my investment loans.

1) I use I/O only loans so that I can driect all of my spare cash into paying down my own home loan as quickly as possible.

When the home loan is paid off then I’ll consider my options and explore the costs and benefits and options of paying off/down some IP…[Read more]

Hi gooch1

You would nead a commercial loan because there are 6 units therefore my need 66%finance ?
assuming that you pay 280K you nead 96k cash in the deal.
Loan 184K @ 6.6% = 233.5 pw Interest
Rates/water could be high
because 6 units say 3000 pa = 60pw
Insurance 400pa (guess) =8pw
agent @7% assuming all let
at 90pw…[Read more]