Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
I didn't vote as i don't meet the criteria, but FYI - according to the ABS the average wage (full time adult ordinary earnings) is $1,103.60 per week or $57,387.20 per annum, using the most current statistics to August 2007.
I bought my first IP 10months ago, on a wage of $30,000
Thank L.AAussie
Well I had no savings to begin with, I decided to sell some parts off my car which I got $5000 for. Then saved another $8000 over about 6months.. I would put 50% of my pay away each week and used the other half for rent, food and fuel..
I bought a place for $125,000 with a tennant already in place.
Put down $10,000 deposit, and used the other $3000 + borrowed $4000 from parents to cover the purchasing costs..
Rental income was $650 a month
Loan repayments are $805 a month
So it was costing me $35 a week befor tax.
Rent has since gone up to $670 a month making it a shortfall of $30 a week befor tax.
I didnt recive the FHOG as it was for 100% investment purpose.
I have since got a depreciation shedule done and have pretty much got the propery down to costing me $1 a week after tax
There has been no real lifestyle sacrifices, you dont realy notice $30 a week..
There has been no real lifestyle sacrifices, you dont realy notice $30 a week..
I fit into the low income bracket with no IPs, but should have one within the next 6 months...
I vote you should keep this thread active for the next 6 months
I fit into the low income bracket with no IPs, but should have one within the next 6 months...
I vote you should keep this thread active for the next 6 months