All Topics / Finance / Loan Repayment software? Or formula?

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  • Profile photo of PsychiatristPsychiatrist
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    @psychiatrist
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    Does anyone know of anything where for eg i can enter my owing loan amount and subtract my fortnightly repayments and subtract my tenants weekly rent etc ??

    With the loans intrest as well, so i can see when its paid off etc , and also i can allow for late payments, late rent etc ??

    Maybe an excel spreadsheet or some other software, ??

    What about other IP software anyone got any, or got info or goss on them?>??

    Would be a godsent!

    Cheers Psychiatrist!

    Profile photo of RoofarmerRoofarmer
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    When you open Excel there is a right column showing previous documents. Below that is a section “New from Template”. Choose the “Loan Amortization” one and this should solve your problem.

    “Most people operate under a false ceiling which is 3 feet high” Stuart G Goldsmith

    Profile photo of calvin_thirty4calvin_thirty4
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    Psychiatrist,
    are you trying to find out what you pay/ And/or what penalty interest late rental payments incurr?

    If you are only looking for tracability? It is easy enough to set up an “Agent ID” on a deposit book with most banks. What it does it allows several different agents (read Tennants or REAs) depositing into one account but each having a different id code. This makes tracking who pays what and when very easy when looking at your statements.
    I can’t recall what they are called, but I remember a friend that has one off-set account against his PPOR collecting rent from 6 other IPs all with their own ID.

    Doesn’t do much calculating, but sure helps sort out the muck and allows easy tracability!

    Cheers
    C@34

    Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
    – Thomas Edison

    Profile photo of redwingredwing
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    Originally posted by calvin@thirty4:

    Psychiatrist,
    are you trying to find out what you pay/ And/or what penalty interest late rental payments incurr?

    If you are only looking for tracability? It is easy enough to set up an “Agent ID” on a deposit book with most banks. What it does it allows several different agents (read Tennants or REAs) depositing into one account but each having a different id code. This makes tracking who pays what and when very easy when looking at your statements.
    I can’t recall what they are called, but I remember a friend that has one off-set account against his PPOR collecting rent from 6 other IPs all with their own ID.

    Doesn’t do much calculating, but sure helps sort out the muck and allows easy tracability!

    Cheers
    C@34

    Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
    – Thomas Edison

    Never heard of that one calvin, sounds interesting..

    Our statements show the REA companies name and Trust a/c name when rental deposits go in.

    Roofarmers soundsinteresting as well..i’ll go open excel now…

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of calvin_thirty4calvin_thirty4
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    @calvin_thirty4
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    Hi Redwing,

    Our statements show the REA companies name and Trust a/c name when rental deposits go in.

    Sounds to me like they are in the 21st century and send your money electronically! This way the tennant puts the rent money into the REAs Trust account and they trf it to your account minus their fees.

    I guess my idea is more relevant for those who manage their own IPs.

    Cheers
    C@34

    Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
    – Thomas Edison

    Profile photo of PsychiatristPsychiatrist
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    I was meaning, a program for your pc at home, you open it, you see how much is left on the loan, where you are up to etc, estimated loan end date etc..

    Didnt mean anything what you all are talking about *giggles* sorry if i misworded myself.

    Cheers xx

    Profile photo of DerekDerek
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    Profile photo of redwingredwing
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    INFOCHOICE

    Click onto Infochoice as there is some helpful calculators there as well..

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of calvin_thirty4calvin_thirty4
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    @calvin_thirty4
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    Big P,
    I think that MS Money does this sort of thing!?! You can down load your bank statements of the internet and imprt them into the corresponding MS Money profile.

    That reminds me, I’ve got it – really should look into it…… Anyways it doesn’t cost too much ~ $50 from memory. Go to Harvey Norman or Retravision say that you want it and how much for cash.

    Cheers
    C@34

    Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
    – Thomas Edison

    Profile photo of calvin_thirty4calvin_thirty4
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    @calvin_thirty4
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    Big P,

    Sorry! That doesn’t sound the way it should….

    Respect!

    Cheers
    C@34

    Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
    – Thomas Edison

    Profile photo of redwingredwing
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    @redwing
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    R U taking the P C?

    R

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of Cabo WaboCabo Wabo
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    If any of you know even a lil bit about excel, i’d highly recommend trying to create your own loan tracking / property spreadsheets.

    I’m still not that flash at excel, but have created over time a setup that i keep modifying and improving. It gives me great peace of mind, and i’ve learn’t heaps doing it.

    When you do this yourself, it is mindblowing the revelations the numbers will show you if you understand exactly how those numbers are created. I realy want to understand what is creating the numbers, and why.

    I joke with friends and say that I must be the most boring guy on the planet and that i should get a life, because i can occasionally, quite happily, blow a whole saturday muckin around planning my fortunes in excel.

    In fact, god help me, i’m on the computer now…. HA, … and so are you!!

    Gee, you guys are so boring….[biggrin]

    Cabo Wabo

    Profile photo of stuck-at-twostuck-at-two
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    @stuck-at-two
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    I called my bank a few weeks back and asked numerous staff how my monthly repayments are calculated. None of them could tell me. I raised a complaint and had one of there senior analysts call back, whim, still couldnt tell me. (down to the cent. Im pretty anal) Most recommended I use calculators on their website, which are inaccurate. (Especially the ones that show how much you could possibly borrow) I called the banking Ombudsman, and he advised me the bank dont even have to tell me. Once you have signed the mortgage agreement stating how much you are repaying per month, thats where the liability ends. Im not stupid and know how to work out interest only repayments, but i have given up trying to get down to the cent my monthly repayment (that the bank deducts) from my account

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