Finding A Property Calculator

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From: Simon St John


Hi everyone!

Just wondering if anyone has a property calculator spreadsheet that can analyise a property based on variables - stamp duty, mortgage, costs, etc.

Steve Navra very kindly supplied a great one at his seminar but the only catch was it only supports interest only loans - my partner is interested in P & I.

Just thought someone might have one they would share.

Cheers, Simon

(PS: Here's to keeping warm and dry (if you're in Melbourne like me!)
 
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Reply: 1
From: Jeremy Laws


It should only support I/O. If you absolutely insist on being silly then buy a Palm Pilot and use a good financial calculator. There are two reasons to use P&I. 1 - for wrapping and 2 - if you are ever forced to get car finance, the only loans I have managed to get are P&I..
 
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Reply: 1.1
From: Les .



G'day Simon,

Dolf de Roos had a good comment re using P&I vs IO - as he said, you reduce your Tax deductions, then (for good measure) you have to pay another bunch of fees to re-borrow your money back again for more IP's.

Stick with IO, and (if you really, REALLY must) use an Offset account and put in the difference in $$ between P&I and IO. That way, if you change your mind, and want to redraw it, you just redraw it.

And, if you DON'T change your mind, then at any time, just go and give it to them (but meantime, you've HAD the same benefits as P&I anyway without "locking up the cash", so WHY WOULD YOU "lock it up"?).

Dolf de Roos has a bunch of good ideas - keep $23.95 aside and go buy "Real Estate Riches" - worth 100 x as much as that (IMHO)

Regards,

Les


- "Eschew Obfuscation" - ;^)
 
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Reply: 1.1.1
From: Robert Forward


I pay P&I on a number of my properties, the reason being is that they are cashflow positive after all expenses just on the rental income alone.

As I don't need the cashflow into my pocket, due to other reasons, I am willing to allow it to go into paying the loan down to help lower my LVR which in turn gives me better borrowing power. Though for negatively geared properties I would only pay I/O to lower my cash outlay.

Cheers,
Robert

Get your Property Inspection Reports @
http://www.CreativeFinance.com.au
 
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Reply: 1.1.1.1
From: Steve Navra


Hi Simon,

Give me a buzz and I will send same, WITH P&I

Regards,

Steve
 
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Reply: 1.1.1.2
From: Waverly Bay




The poor guy asks an innocent question about software/spreadsheets that do basic property calcs...and he gets pummelled with interest only vs p & i comments !

Simon - the more simple your spreadsheet, the more basic will be your results.

Check out the somersoft PIA software which is both affordable price wise and generates very useful and effective property calc analysis. Among the many features PIA offers, the main is the ability to track pre tax and after tax cashflows on an individual holding basis or aggregate basis on a range of variables u can set for interest rates, property expenses, mortgage costs, loan type etc.. Mr somers is also very helpful and responsive to queries... should you need assistance.

Good luck with your search - i am sure others can add to the wealth of products that might be of interest to simon

Cheers


Waverly
 
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Reply: 1.1.1.2.1
From: Simon St John


Thanks Waverley, Steve and others....

We'll I ducked for that one! I knew it would come Waverley and I do happen to agree with the i only approach myself, but my partner wants to pay p and i. It's a personal choice in the end.

Thanks to all for your views.

Simon
 
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Reply: 1.1.1.2.1.1
From: John P


H Simon, I have an Excel Model that may help. Please e-mail me if you would like a copy.

Regards


John Poulos
RESI Home Loans Representative
 
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Reply: 1.1.1.2.1.1.1
From: Jeremy Laws


Rob - I didnt think TW's way would appeal to many at all, but there had to be someone!

WB - Nice answer! Only one that put forward (pardon the pun!) a wrong argument in a very good light!! I want you in my corner when next we fight:)

PS Simon? Much as I hate P&I loans, WB is correct. His suggestions have made me very nice $$ in the past and if you follow his honest and considered advice you will always do well!
 
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Reply: 1.1.1.2.1.1.1.1
From: Simon St John


Hi Jeremy!

I agree with you - WB's comments are always welcome and informative.

I happen to agree with the general principle that IP's should be financed i only.

However, I do understand that some people feel otherwise. My partner does not see himself buying multiple properties. His angle is to have one IP, have it paid off by the time he comes to retire and live in it happily everafter. It's doesn't matter that that strategy does not make good investment sense so long as the person is aware of that fact and does it for their own reasons. Maybe down the track trier view might change - all part of the learning process!

Cheers, Simon
 
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