Forum Replies Created
Any progress towards a mobile version of the forum yet ??
Hi all, any progress on a mobile version, the new interface looks great on a PC but is very awkward on a mobile.
Far too much zooming and panning required now.
Cheers
Tommy1
Pretax cashflow $2,020p.a. (at 100% finance)
Pretax cashflow $3,415p.a. (at 100% finance)Can you please advise on how you calculated the pretax cashflow.
ThanksHi all, been away for a while doing other things, time to get back on track. Situation is basically the same as my previous post. Is there a spreedsheet or something that I could throw some numbers at to see if I can afford another property. Something that I could populate with numbers and look at “what if” situations with imputs such as income, expected rent, loan amounts, depreciation values, etc etc. Would really like to purchase another IP but as it has been a while since researching financial/investment info that I seems to have forgotten the basic’s !
Would like to know how much I could borrow and how much I would need to personally cover to invest in more property.
Thanks in advance
Tommy1All is quiet on a condensed forum or forum access via a app for iPhone/iPad . . . . Or android ! Hey Steve, what do you think ? ?
Yes works ok with safari on iPhone, but would be great to just use tapatalk for forum, then just need to read all forums that we are members of, in one simple app and location. Just a thought !
iPhone user here.
+1, how about getting this forum on the tapatalk app ? ? PLEASE !
Sorry about confusion, bank is Australian Central Credit Union. Friend is a Australian resident. Just trying to get a normal everyday credit card with about $5k to $10k limit so that funds can stay in equity loan for the maximum length of time, prior to paying off credit card at end of interest free period.
Problem seems to be a relatively low income and I assume the credit card company work there numbers as if the equity loan is fully drawn down, hence effecting the maximum amount that the credit card limit can be.
With there credit card having an interest free period of 62 days creates a situation where the limit needs to be at least $2k just to cover basic bills etc for the duration of 2 months. Near the end of the 2months the plan was to transfer money from the equity loan (loc) where wage has been deposited, to pay out the credit card.
Thanks for your comments Richard. Some more info……
Expenditure is just normal, no other loans, no exotic cars or holidays. LOC on IP was set up as I had repair and maintaince/renovations, strata levy’s etc that totalled $30k and I didn’t won’t to use my money, so I refinanced from P/I loan to utilize some equity to cover the IP bills. (hope that was the right thing to do. Yes, LOC is for IP use only, and my bank manager advised to use the remaining balance as deposit for next IP) Interest rate is at 7.7 %, i think LVR was calculated at 60% and I don’t believe they are cross collaterised.
At present, all IP bills are slowly soaking up the balance of the LOC, and the rent is going into my offset account on PPOR, and I just deposit a little more into the LOC to cover the interest.
So a new problem is starting where I seem to be biting into the IP equity. Any suggestions on how to fix this and a way forward to obtain 2 more properties ASAP would be greatly appreciated. ($300k each)
