PropertyPadowan replied to the topic Great Weekend! Bought 1st IP!! in the forum No Subject 18 years, 7 months ago
Thanks Westan… I certainly wasn’t thinking at the time of posting.
I live east of Melbourne. Well, south east actually, but am willing to travel..
Thanks.
PropertyPadowanMoney is just something we’ve made up so I want to make some of the made up stuff!!!
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PropertyPadowan replied to the topic $100K in Equity. $80K in Bank. WHAT WOULD YOU DO?? in the forum No Subject 19 years, 10 months ago
DD
Just curious.. If I was to do that, although the monthly repayments would be smaller, if I didn’t have the presence of an offset account, would that mean that I would be paying 100% Interest on the balance, even though the balance would be $80K smaller…
As opposed to Offset Account, although the Repayments are higher, technically more is…[Read more]
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PropertyPadowan replied to the topic $100K in Equity. $80K in Bank. WHAT WOULD YOU DO?? in the forum No Subject 19 years, 10 months ago
Just considering what has been said and delving into Offset Accounts.. If a loan balance was say $100K and my Offset Account Balance was then $80K, would I be paying in effect interest and repayments on a mortgage of only $20K??
Money is just something we’ve made up so I want to make some of the made up stuff!!!
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PropertyPadowan replied to the topic Trying to get my head around it all!! in the forum Help Needed! 19 years, 10 months ago
to further explain… I would like to turn my day-time full time job into property management; my property…
So although I am only saving 6-8% of a property managers fee, I was hoping to establish a business that I was to run that 100% managed my own properties…
Is this a thought/approach that anyone else takes? or do people just go with the…[Read more]
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