Forum Replies Created
Thanks Mel
AS Mel has just informed me there has been a change in the tax brackets
I have now gone through and mended all the formulas for the new rates
Fudge111[
]Hi Alexander
No, unfortuntely that is a problem I cannot really fix, i will have to make so many extra columns and functions, it would just be too much work, it was originally tailored to our strategy which, as you can see, is paying off the properties very quickly, thus the int rate rises won’t affect us too much, in fact, i hope they keep going up, then prices will become more affordable again.
Anyway, there was so much demand for the ss that i eventually made the Prop1term and propintonly worksheets so people can work out there cash flows for any loan term, but that’s probably the extent that i will go to.
Sorry mate
Fudge111[
]Yep, thanks Bill, that will also go straight into our property investing folder for later use i’m sure
Fudge111[
]Your spot on there Fibejibe, the more you make, the more you get taxed, it is good to be taxed more, however, some non-cash deductions such as depreciation are always welcome to lower your tax bill.
Fudge111[
]I’m with still in school!
Let the int rates rise, then we’ll see some NICE properties on the market,
Fudge111[
][8D]Ps Sorry if I have offended any people who will have to sell due to int rate rises
Hi Melissa
Supposodly the stats are that 10% of properties are positive cf properties, i think that at the moment that couldn’t possibly be true, especially in victoria.
But now that prices may drop in the near future more will probably become positive.
Fudge111[
]Hi Guys,
Broz and I are 20 years old and we plan to have kids at around 28, so we have 8 years to get a solid base behind us before kids come into the equation.
We are planning to live very basic for those 8 years so that we can pour as much income into our investments as possible, we are lucky that we both enjoy the simple things in life, so we will have no problem surviving on minimal amounts of money for a while, we know it will pay off in the end.
Steve had to use alot of income from his accounting firm to source his investments early, there is no other way to do it at the start so it just depends how well you can live on small amounts of income
Fudge111[
][]Thanks Luke,
your post has definately been a productive one so far, coz i sometimes forget the fact that capital gains are only taxed on 50% of the gain if you hold for more than 1 year
Regards
Fudge111[
][^][8D]Hi Redwing!
Well, I already finished exams last Monday, i was actually making and distrubuting the Srpreadsheet all through my exams, lol, but i still went well in them so I’m happy. I’m doing accountancy by the way,
Thanks
Fudge111[
]Hi Wen
As you can see there are many strategies to investing in property.
Broz and I are taking an approach that most people will not, it’s based on paying houses off very quickly, but it takes alot of your personal income in early years which most people can not or will not want to do.
This approach means we save alot of the *time* factor as we have a much greater pool of options, not just the 10% of +cf properties and we also don’t need to buy properties all the time, it is based on first house payed off in 3 years, next 3 in 2 years and then 1 house every 1.5 years from then on and these are fully payed off, no 25 year mortages. I admit that returns will not be as high with this approach the the certainty of returns is definately there.
Anyway, my spreadsheet shows this in more detail, you can get it from the spreadsheet topic page 2. It has 50 replies.
Fudge111[
]Good on ya Lankson!
Good luck for all your future plans[
]Fudge111[8D]
Hi Mikey,
Broz and I are in the same sort of situation, we are both 20 and yet to graduate.
We are both waiting to see what happens with property prices in the next couple of years before we go ahead, we want to wait till we have 2 incomes to eliminate alot of risk, and it would seem wise to wait at your age especially as property prices may drop 10-20% in the next couple of years, while rents will prob slowly rise.
Our approach is a little different from Steves, we don’t want it to take up lots of our time, so we want to pay houses off as fast as possible, you can see the outlines of our plan in my spreadsheet, or in the “A different approach” topic,
Regards
Fudge111[
]Ratings, Ratings, Ratings, nothing else matters to them!!!
Fudge111[
]Hi ddtaprell
What i suggest you do for a P&I loan in excel is,
Go to insert>Function
then go to financial functions
then go to PMT, and just follow the directions, you can click on help for examples, should find it easy.
For int only it is just the annual rate*principal i thought, then just divide by 52 for weekly repayment, correct me if I’m wrong.
Fudge111[
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