Hi I've just read a couple of investment books from the library(actually skipped through them (2 jobs and 2 toddlers will do that) ,one by Anita Bell (i think that's right) and Peter Spann. They both talk about starting with nothing to buying lots of investment properties in oz.
The Bell book prefers to pay out the loans by P and I, but the Spann book prefers IO and I've noticed on this forum most posters go for IO
Does anyone prefer P and I?
What am I roughly losing by paying P and I?
Earning 55k
I have an IP in Macquarie Fields Sydney bought 2005 180 k
Recently revalued 230k
Good tenant paying 240 per week =12500
Expenses (,stata +rates+pm) about 2300 + loan interest
Loan owing 160 k paying extra$ 500-1000 a month
The Bell book prefers to pay out the loans by P and I, but the Spann book prefers IO and I've noticed on this forum most posters go for IO
Does anyone prefer P and I?
What am I roughly losing by paying P and I?
Earning 55k
I have an IP in Macquarie Fields Sydney bought 2005 180 k
Recently revalued 230k
Good tenant paying 240 per week =12500
Expenses (,stata +rates+pm) about 2300 + loan interest
Loan owing 160 k paying extra$ 500-1000 a month
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