Forum Replies Created
Gidday AndreiR.
Cashflow positive is the buzz word. If you delve deeper you will find other peoples problems are your profit!
Try mixing Steve ideas with a simple cost effecrive reno, bingo, raised the value, raise the rent. What looks average can be spruiced up to become +ve.I also have a house in Moranbah Qld. that has offered fantastic cashflow and have been up there over 18 months now. Have had wild fluctuations in rents from $575 to $700 to $1,000 a week rent, Now at $675 and have had 3 months vacancy just through Christmas!!!
Go in to rural with your eyes WIDE open!!
Duncan.
Hi Letita,
If I were in your shoes I would look into offset accounts, They help reduce your interest burden on the existing property and are liquid so you can pull the money down for a deposit when ready. They normally yeild the same result as the interest you are paying now. A good mortgage broker can help you withn this and show you how. The banks will hardly ever tell you about this as you can pay off your loan alot faster…..I believe there is a thread on this site re offset accounts.
Like everything, research, research, research……then do some more…research!
Ciao Dj
