Forum Replies Created
@ Calvin
Thanks for the info, although I don’t think I am 100% clear on the mathamatics behind your response. If I am spending $370 pw on rent a week (damn sydney [glum]) and get a +cf house earning me a little extra a week, how does this compare to owning my own house with hopefully lower repayments than $370 and then using the equity in the PPoR to then buy +cf investments???
I have been wondering about this theory for a while so I am interested to see how it all comes together (maths has never been my strong point [biggrin])
Originally posted by giddo:[medieval]
Great post Calvin.
Methinks the folks are well meaning but may from the old country or at least thinking old I’d say.
Zyleth it sounds like there are 2 conflicting agendas here. The folks are angling to keep you in OZ while you want your cake and eat it too! (sounds like myself)
Is my radar working here or am I way off? Am I being too blunt about the family dynamics? Or too wayyyy wrong perhaps…..[ohno2]Well first of all, I most certainly want my cake and to eat it too. I like cake, cake is yummy [biggrin][thumbsupanim]
I hadn’t concidered the idea that they might be trying to keep us in OZ, now that I have, I spose it is a possiblity. I can say that now that I have put it down in writing I am not so sure about the Germany idea. I think I might just put that idea on hold while I increase my investment portfolio (although I am always happy to hear ideas that will get me both [biggrin]).
I did get a spanner thown in the works today. I contacted a morgage broker to see what sort of money I could borrow. Because of the 2 dependants and single income I am only able to borrow around $250k. This is going to greatly reduce my house hunting ability in sydney I think [glum]
Originally posted by andyperry16:hi zyleth,
nice in-laws!!!
If you are looking for quick CG then i would not be looking at sydney.
my advice to you is if you want to get into to the IP game then continue to rent while putting all possible cash from your income into positive cashflow property, if your goal is financial indepence a trip to europe thats going to set you back 40k will not really help things!!!
Travel europe in comfort when you achieve your financial goals!
all the bestThe +cf path is the one I would prefer to take but the inlaws are only offering the money if it is for a PPoR.
The main reason for wanting to travel europe early is to give my kids the opportunity to grow up with another language rather than to have to learn it further down the track. Going later in life is still on the cards as an option tho [biggrin]Originally posted by DLPP:HI Zyleth,
Can I ask a question?
Why will the family lend you 20k but not for an investment property.
Cheers
Don
They don’t see any point in us paying for someone elses IP while trying to get our own. The would prefer us to be paying off our own home then get our investement portfolio going.
Thanks for the replys everyone. There is some very good advice there.
I still didn’t get to the answers I was looking for though. I spose now that I look over this again, What I was after was a list of expenses that I need to take into account for when I am looking into the property. Do any of you have a checklist of items you use to calculate the expenses from a property?
Hi Sue,
I have read Steves 0 t0 130 properties. I use the advise he gives to evaluate a +cashflow property. But when I try to include the extra costs involved it seems to either not be +CF anymore or it is only by $10 etc. Maybe I am not doing the sums right or maybe I am not taking into account something vital. This is why I am asking for other ppl’s methods.
Rgds
Zyleth
Yes, but it has lots of pretty graphs [tongue]
I have (and currently am) using the spreadsheet method. I find it very awkward and cumbersome. The pic that I have seen of this program looked easy and slick.
Still haven’t made up my mind tho [weird]
Excellent advice guys, Keep it coming.
I will be sitting down with my wife and going over this thread step by step to see what we can change and to devise a plan to succeed.
Thanks for the advice again
