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Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of Maria0911Maria0911
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    @maria0911
    Join Date: 2004
    Post Count: 18
    July 2, 2005 - 12:15 pm

    My mistake in the earlier rent return. Maybe need to crunch my numbers again

    Profile photo of Maria0911Maria0911
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    @maria0911
    Join Date: 2004
    Post Count: 18
    July 2, 2005 - 12:05 pm

    Jay

    The property is $225K. Rent per week = $275. The managment fee is $1144pa however am contemplating managing it myself as it is near where I live, Rates = $1350pa and Body Corporate $2600pa. Insurance $750
    The building is only 4.5 years old so I have factored Depreciation – buildind write off of $3848 and Plant & Equip $5700 for the first year. Interest rate is 6.97%. I have also factored by Gross income which is in the $70-$75K. Is there something I have overlooked or am miss calculating?

    Profile photo of Maria0911Maria0911
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    @maria0911
    Join Date: 2004
    Post Count: 18
    April 17, 2005 - 3:48 am

    Thanks Dazzling

    I somehow thought there was alittle more to it than that.
    I do remember my year 8 grade maths

    Profile photo of Maria0911Maria0911
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    @maria0911
    Join Date: 2004
    Post Count: 18
    April 11, 2005 - 1:22 am

    Thanks Derek. I could do with incresing my cashflow for invetsing. My goal is to replace all or at least most of my current income through property which will help me pursue other career goals. I don’t want to be in my current field for too much longer and have a business idea I would like to get off the ground however would like to have a steady stream of income through property whilst I pursue this. Not planning on sitting on a beach for the rest of my life, but just want to be able to be free from relying on an income from an employer

    Profile photo of Maria0911Maria0911
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    @maria0911
    Join Date: 2004
    Post Count: 18
    April 11, 2005 - 12:24 am

    Thanks Eric & Derek for all this very valuable information. Your points are very valid.
    Derek, to answer your question, – no kids likely in the near future. My current mortgage is I&P. I will definitely look into the Interest Only for this property. Although I had thought about future repayments for new loans to be set up as Interest only, it hadn’t occurred to me to change the existing one. Deerrrrrrrrr I must be having a blonde day!

    Profile photo of Maria0911Maria0911
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    @maria0911
    Join Date: 2004
    Post Count: 18
    April 8, 2005 - 7:04 am

    Thanks Guys. Very valuable ifnormation

    Profile photo of Maria0911Maria0911
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    @maria0911
    Join Date: 2004
    Post Count: 18
    April 7, 2005 - 12:53 pm

    Thanks Steve. I’l certainly look into this

    Profile photo of Maria0911Maria0911
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    @maria0911
    Join Date: 2004
    Post Count: 18
    April 2, 2005 - 11:25 pm

    Thanks Shelley & Terry. Will look into this further.

Viewing 8 posts - 1 through 8 (of 8 total)