couple of figure to look @
borrowing 1.4 mill @ 7.5% = $105000 P/A
7x 225 p/w = $81900
shortfall of $23100
thus each partner would have to cough up approx $12500 each per annum approx $220 each per week claimable on tax as is the interest so progected tax benefit @ approx 30% is
loss $23100
interst$ 81900
detuctibles eg deprectation etc on…[Read more]

Hi jo
yes its a scary thought but with tax benefits and the historical data that suggests that property increases approx 10% P/A and the fact your having tenants paying your homes off is a great temptation I guess expected rental would be in the range of 200-235 per week per property my partner and I understand we would have to pick up the…[Read more]

we live in sth aus and the IP’ we are looking @ are between 170-200 thou I know steve recommends buying in rural areas but as I have just found out by buying an acre of land that the lenders dont like to lend against rural areas I had a couple of knockbacks due to it being rural..

thanks for your quick reply couple of things
1:would the 100000 against my home be as well as my partners 100000 therfore $200000 all up
@: this would only give us enough money for approx 7 homes @ 80% LVR how would we then acheive the needed finance for the next IP? I understand the 80% LVR because of mortgage insurance but wouldnt it be better…[Read more]