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!!!
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]
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!!!
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]