Forum Replies Created
It is not as simple as other ppl said then..
Thanks Terry,
[/quote]Yes, if you are using equity you will have a bigger loan and will be paying more interest.
[/quote]hmm… I am still thinking we still have a lot of cash to maintain it for longer term.
because once interest rates going up, the loan payment will going up as well, at that time the rent might not enough to cover it.
If we can't cover the payment – we still have to sell the IP. If the prices stagnant or decreasing and no capital gain made – then i already suffer losses from the interest and expenses ( entry and exit ). Is that correct ?Sorry, i am a newbie. I buy property to live not for investment. However i am really interested to try it as an investor.
Just wanna make sure i am gonna do it right and advice from prof and experienced investors are the best!thanks,
wiwin
Jamie M wrote:Wiwin wrote:Don't really understand how they ( the ones who have many IP ) managed so many IP without any default…Because they're probably not buying IPs that cost a lot to hold – ie. they're not highly negatively geared.
Cheers
Jamie
So we were using equity from the 1st IP for 2nd IP deposit. Bank will increase the bank loan right? isn't it means that we have to pay more loan ? just for example 1st IP bank loan 300K, after 2 years the value increased by 100K, and i used it for deposit
2nd IP, duty stamp etc.I will have 400 K on loan for the 1st IP and another loan for 2nd IP ( Total purchase 2nd IP minus Deposit )
If I rent out 2nd IP with negative gearing – then the total loan that i have to pay will be increase with the difference..Am I right or am i wrong ?
Don't really understand how they ( the ones who have many IP ) managed so many IP without any default…Thanks,
Wiwin
Thanks Colin…
your answer clears up my doubt.
I will review my contract agreement and add up some details.
hi all,
regarding rental property damaged, i also have a case of rental property damaged last year at overseas. I have 3 br house rent to tenant. By the end of the lease, i just found out the ceilings are leaking and the tiles also damaged. Not only that, the tenant also drilled the wall and make a hole to put antenna tv cable inside the house. The tenant is not willing to pay the damaged and argued the leaking ceilings and the damaged tiles caused by earth quake or house structural problems and the last ones ( the holes ) is unavoidable happened since she need it. I instructs my agents to not refund the bonds and used it to repair the house. However the cost is 5 times from the bonds. Notes: i rent it monthly so the damaged cost me 5 months of rent.
Next year, I am planning to get another property, and i am definitely will have a mortgage on it. I only concern if that situation happen again, i am afraid that i couldn't make a cash flow positif on that property. How can i prevent the same case happens again ? Who should pay for the leaking that occurs during the rental ?
Wiwin
Hi.
My name is wiwin. I am looking to buy my first own property and set up my own portfolio so i can retired young and retired rich.
However I am really have no clue how to start it here if i don't have millions to start. I have no debt but no cash. Anyone would be kind enough to tell me how much money do i need to save to start it ? Do i have to start at overseas ? I am currently living in sydney, the cheapest 2 bedroom already cost around 400-500K. I have no idea how to start it with 40K salary and 32K savings.
thanks.
