Hi all,
We are starting the process of converting our PPOR to an IP after many months of deliberation. Doing the sums myself it looks as though it is a smart financial decision, but if anyone can sanity check my numbers it would be much appreciated.
Estimated rent per week: $450
Loan repayment per week:$700
So on paper with a basic calc we are out of pocket $250 a week.
Additional:
House value: $590000
Salaries $75000 and $70000
House is less than two years old so significant depreciation benefits
Using a spreadsheet from this forum with some additional info added by me, it calculated our out of pocket to be around $80 per week after tax. Without all the specifics, do you experts think this is a reasonable estimation of our weekly shortfall on this investment?
Cheers
We are starting the process of converting our PPOR to an IP after many months of deliberation. Doing the sums myself it looks as though it is a smart financial decision, but if anyone can sanity check my numbers it would be much appreciated.
Estimated rent per week: $450
Loan repayment per week:$700
So on paper with a basic calc we are out of pocket $250 a week.
Additional:
House value: $590000
Salaries $75000 and $70000
House is less than two years old so significant depreciation benefits
Using a spreadsheet from this forum with some additional info added by me, it calculated our out of pocket to be around $80 per week after tax. Without all the specifics, do you experts think this is a reasonable estimation of our weekly shortfall on this investment?
Cheers
