Forum Replies Created
thanks scott,terry [
]
Yes that sounds good ,
i was looking at more expensive ips ,thats why i was having trouble servicing them {my thought }
but ,i think cheaper ones are more realistic ,thanks for bringing me back down to earth guys [] i have,nt hit the big time {yet}[][]if i get a cash bond i would receive 4% back ,is that right
if i get a loc i would have to pay 6%
i thought, with the cash bond if you use the money for investment the tax will allow you the differants in int,that you pay for your loc, so you get 4% but you pay loc 6% so you can claim the 2% diff
[?]i dont know im getting very confused my self to much on the pc im going la lathanks for that [
]i worked out this
say to be on the safe side i have 500k in equity to spend
get a loc 500k and use 250k for the cash bond
get 5*200k ips
put 20% down borrow 160k on each ip
20%=40k+ 10k closing cost= 50k
5*50k now i have used up my loc of 250k+ 250k for the cash bond .to pay i/o loc say 6% =30kpa
20k left to help service loan ,after rents
meanwhile 5*200k ips say 5%growth pa = 50k
I dont know the % on cash bonds ,they give you correct me please ,if i am wrong .4%pa = 50k over 5 years.so at the end of 5 years cg on 5 ips is 250k
i pay out 150k for my loc ,so i am loosing , over 5 years .so i have to hope i get a better growth than 5%pa ,i think thats why steve says to buy good cgains ips []meanwhile remember when i put down 20% at the start that means instant euqity [
]is that right
please pick at this,and tell me i am wrong some how . now i think i am more confused than ever
better go back to the sums []hi guys thanks for the yes i did it right [
]
sounds like i can still go further
but my problem is servising the loan ,in my eyes i want to use this equity to upgrade my ppor from 600k to 1m or so but ,i dont want to sell my old ppor so payments would come alot ,so i was thinking of cash bonds ,but maybe some one has got other ideas ,any way if i can,nt get a new ppor for me i will keep buying ips but they will have to be good cash flow .
my accountant said i have NO MONEY LEFT to service more loans ,that really gets under my skin when i know how much equity i have ,and i dont want to stop now []hi guys,this is my numbers
can you tell me if thats righthouse values1,400,000
_80%=280,000
1,400,000-280,000=1,120,000
loans out on all ips
514,000
1,120,000-514,000=606,000
so 606,000 i can borrow
but have no more money to service the loans if i borrow .
what do you think,, should i get a cash bond and keep going ?
or am i dreaming []yes i think it will be a great book [
]i will certinaly read it []thanks for your comments ,,i bought a peice of land, may ,will be a year ,it was cheap at the time and i purchesed it just off the flyer ,so i thought what the heck only 49,000 at that time i was purchesing a ip in the same area so i got one loan for both ,but when i had a good think about it i was not to sure if i had done the right thing ,because i did not even do any reserch ,even for the ip too which has a tenant in already ,so as it turned out ,its been 10 months now my ip has gone up heaps [
]and wouldnt you know it ,the peice of land 880sq is now 120,000 so i caught my breath and thought ,some one up there likes me []not knowing whether to sell the land or not ,after discovering this forum my mind has been ticking and now i am soon to go to the council to get an ok on 2 double stories on this peice of land ,its my first time building so ,,,,,,,here goes ,,, ps i intend to rent them out ,and yes they will be + gearing ,so you see ,thanks to this forum i have a little bit more brains now ans feel more confident to take some risks ,ps property investment is addictive ?am i right or is it just me []thanxs for that info[
]thanks for your ideas that sounds like the way to go [
][
]hi all just thought i wouold tell you about my tenants .i bought my first 2 ips almost 2 years ago now ,i had a tenant,and is still my tenant and they are great never fail to pay on time ,keeps the house nice ,and she even up the rent by $5.00 HER SELF so hows that for a good tenant []actually wedid her a favor and looked around for a second hand air-con for her she was so pleased she wanted to up her own rent by $10 a week but we felt slack so we took $5 ,from day one when we meet i said this really is your house you live here and you should be happy if there is any thing wrong just ring us it was,nt long before i got rid of the agent and looked after it my self < much better > we have had a few little things to do,and she has always been very patiant and thankful ,but with my other ip i have had 4 changes in tenants ,and one was really a tenant from hell + at the time the agent was in charge they paid the rent mostely but wrecked the house mainly ,6 months ,notone inspection {from agent}and i had to evict them and re do all in side new kitchen scrubed the bathroom i think for a week and painted all over again replace the blinds as well mind you i had just put in new ones before they arrived .and now lets move out side rebuild the pogola again, the grass was dead replace gates out side not to metion replace front and back doors ,,and also all internal doors so at the end LUCKY I HAVE TENANTS INSURANCS that covered the lot but we still had a lot of work to do as we did it all ours selves so now i am up to my forth tenant 2nd and 3rd was not as bad, one would not pay for 12weeks and then just left so , i really apreiciate good fair people and you need a bit of luck
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] i have,nt hit the big time {yet}[
]
]is that right
]
]i will certinaly read it [
