Forum Replies Created
Totally agree comdom
Everyone will differ in their opinions, but good luck to everyone in their property investing goals.
Basically forum is about a group of like-minded (to some degree) people coming together and trying to help eachother be successful investors, no matter how we want to go about it.
I think sometimes people are a bit too critical of other peoples strategies, we need to give helpful advice without just thinking our way is the only way to do it.
It is probably the best and most useful forum i will ever find in my life on this earth!~
Fudge111[
][][]I do agree with still in school i must admit.
I guess though i’m not too worried that both broz and I are still finishing our uni degrees and will have to wait around 2 more years to we seriously think about implementing our investment plan.
It will be very interesting to see what the property market is like in 2 years time!
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]Fudge111[]Hi Everyone!
Thanks for all the interest in my spreadsheet!
Could everyone post their comments in the forum, like reply to this thread, they can be bad or good, i can take criticism.
I would rather everyone be able to see what you guys think.
Regards
Fudge111[]Alf, there is no way i coulda done it for many more than 3 yrs, coz then i would have too many calculations to do on the right hand side. This spreadsheet is based for my strategy, which i know is not the strategy of most people in this forum. In the “A different approach” post there is some good arguments for and against my strategy, i’m sure you brainiaks out there could make the spreadsheet a bit better, but it is all i really need at this stage. Thanks for your comments alf, much appreciated.
Fudge111[
][8D]cool guys, i will email npow, anyone else interested, i would love to see what lots of people think about it!!
Fudge111[
]Hi everyone,
I am with fields, i mean, sure the more positively geared the house is the better, but you know, more important things should come to mind such as location etc.
There is no point owning a property that would be cash flow if you could find a tenant, and as i have quite sternly announced my strategy is one of caution rather than huge capital gains or even huge passive income. All i know is that if my plans run as i have planned i will be able to retire at 41 with 110k passive income a year to live off, and it takes all factors into account, not just positive cash flows, but demand for tenants and places with good growth. It is hard to find the best of everything, but a good balance should ensure success if you make a goal and stick to it, well that’s my 2 cents anyway.
Fudge111[
]Thanks Powmow,
That is quite interesting, so i suppose putting deadlocks in would be a ethically sound reason to up the rent just a little
Regards
Fudge111[
]Thanks Powmow,
That is quite interesting, so i suppose putting deadlocks in would be a ethically sound reason to up the rent just a little
Regards
Fudge111[
]C’mon Guys, let’s revolt! I’m sure we could get steve to somhow change the colour, he’s a nice kind of guy,
Who’s in?Fudge111[
]Thanks Fibejebe,
Well, i have already based a model on how we will invest, and it basically is the first property is fully paid off in 3 yrs, then the 2nd in 2 years, and then from there on you can purchase a property and fully pay it off mind you every 1.5 years from then on.
It requires alot of your income initially but then by around the Property7 or property8 you have enough passive income to pay off the $90,140 annual repayment without using any of your own income, it takes alot of dedication early for great rewards later, and because we are both young (20) and we both know we can sacrifice our living for a few years (i might even stay living at home a little longer to free up more of my income) to eventually come out with masses of passive income by the time we are in our early 30’s,
The model is based on properties worth 160k with weekly rent $280 a week. It ends up being $11,635 of passive income for each property after you have paid it off, and obviously in the periods when you are repaying the loan it is even higher profit due to the loan interest incurred.
I think it’s a winner! But it takes alot of dedication, in fact, around 6-8 years of solid saving, but it will pay off, i know it!Thankyou
Fudge111[][^][]Thanks Oz
Sounds like for an 160k home you would be looking around $4000 @ 2.5%, is it is built after 1987, and i spose the rest depends on the furniture and fittings,
Fudge111[
]Hi Everyone, I simply can’t believe the number of youngsters having a good say in the forum, great work. Broz and I are also 20 years old and have already started planning our investment strategies for the future. Exciting stuff!
Fudge111[
][^][8D][][]Hi, everyone
“For example I have a depreciation schedule for a property I may be buying. In the first year I can claim $1613 for Division 43 (special building allowance) and $1452 for Division 40 (Plant and Equipment)= $3065 (for year 1)”.
Oz, could you please elaborate on more specifics about this property, like when it was built, price etc, I would like to work out a ballpark figure for depreciation for a 160k home, like the average, i know it would vary a fair bit but i just need an average figure
Thankyou
Fudge111[]Good point Jim , i see how Steve’s approach is alot better in making cash overall, but it is alot of work!
As I mentioned earlier i’m sure i’ll find a few +cf properties which for obvious reasons it is better to leave them as Steve does, but however, i know that Broz and myself will definately benefit from a few properties paid off very fast. They will be more based on capital gains most likely, they will provide alot of passive income after they are paid off and they won’t be too hard to find unlike the +cf investments!
Thanks to everyone for all the great info, it has been a rather successful topic, i never imagined i’d get over 30 replies!Fudge111[
][^][][]Hey Jim,
Was that post meant to say “That’s obvious” or is the quote “Incorrect”
Please elaborate
Fudge111[
][][]Also Dino, as Oz pointed out in an earlier post, there could be up to $3000 depreciation benefits each year which are tax deductable, increasing cash flows by $1400 each year.
Also in the first 3 years too you pay around $15,000 in loan interest which is another $7,500 increase in cf’s for the first 3 years, which would put your initial outlay down from $157,000 to $149,500.Fudge111[
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