See Rob, your reputation preceeds you........she's up for a one time meeting only.we should arrange a meet one time for a latte
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See Rob, your reputation preceeds you........she's up for a one time meeting only.we should arrange a meet one time for a latte
Fantastic achievement Rob! Always enjoy reading your posts.
You're an Adelaidian too so we should arrange a meet one time for a latte
2 million dollars debt in 22 months.
Actually, it's $2m in prime resi real estate. The debt is less than $1.5m.
Actually, it's $2m in prime resi real estate. The debt is less than $1.5m.
I think it's really amazing what you have done in Adl coz I believe CG there is slower compared to Brisbane. If you owned that many units in Brissy, you would have a very high net worth!! and rents here are much higher too so probably a positive cashflow.
I do prefer less properties but with more equity i.e 3 houses with $700k of equity rather than 8 units with the same amount coz if you needto raise cash quickly, it's easier to sell one house than have to sell 2 or 3 units. Just something to consider in your contingency plan.But it's also good to spread your risks over more properties.
Bayview - it can be done. It's IPs so you can use rent as income. We have always been low income earners and never had a loan refused yet. Our latest loan is for $520k with expected rental income of $650p/w and CG of $150k.
Hi Sue. On average, my body corp fees, land tax, rates, SA Water etc. etc. work out to around $2,500 per property.
The CG has been steady, without any spectacular growth. The Leabrook unit was purchased in 2000 for $79k. During the divorce settlement in March 2007 it was valued at around $180k. I've just had it revalued for a refi and it came in at $270k. Now you tell me I'm not getting CG and I should have invested in Brissy? Why didn't someone tell me that earlier
Actually, it's $2m in prime resi real estate. The debt is less than $1.5m.