Spreadsheet for IP's Summary

[Modal Harmony]

Hi all, I have attached a spreadsheet summary which some of you might find helpful. This automatically calculates current LVR & gross yields based on when an IP was purchased to what it is worth today. Remember the data is only as good as what you put in (GIGO ). The calculated weekly rent is bacsically a net value based on PM statements. Rows 17, 20, 45 & 46 are links to other spreadsheets (more detailed than need for this summary); also I have deleted BSB & account numbers for obvious reasons!

If there's any mortgage brokers / financial persons reading this, could you please advise if I should be looking at any refinancing as all my IP's are cashflow negative (as you can see). Bear in mind that there are no taxation deductions shown in this sheet for depreciation, etc, so it's not a true net worth.

We did see our mortgage broker in MAR09, but the break costs are quite excessive (see red triangles comments on cells C22 & D22). Should we wait for the expiry dates and refix or float to variable?? Any pearls of wisdom would be greatly appreciated at this stage!

 

[Qlds007]

I think you have answered your own question.

Yes if they were variable rates you would look at refinancing but if the break fees are excessive as the loans are fixed then what you pick up on 1 hand you will loose on the other.

Feb 10 isnt that far away so I would stay put.

 

[Gools]

MH, sorry I can't be any help with the refinancing advice (crystal ball stuff) but can you please explain the rental rate on IP01 for the F/Y being less than the actual initial rental figure you provided? How is that so?

Must admit, your figures do make me sweat a little, guess you just have to thinking about the figure in J12 and forget about the figure in J47 and all the hard work will be worth it.

Good stuff.

Gools

p.s. I like your double digit IP Names allowing for future growth into the double digit range easily. It appeals to my Database Admin side.

 

[bawatkins]

I would also agree with Rolf, not worth the break costs generally and Feb 2010 ain't too far away.

If you have the servicing and want to get extra funds out, you could attach a variable portion sitting alongside the fixed rate loan to give you access to equity.

 

[Qlds007]

Hi Barry

Glad you agree.

The Rolf is Richard in this case and I am the better looking of the Qld boys (hence i dont have a pic on my website lol).

 

[Bradsdad]

Hi Barry

Glad you agree.

The Rolf is Richard in this case and I am the better looking of the Qld boys (hence i dont have a pic on my website lol).

I can see how Barry made the mistake. You Banana Benders all speak so slowly.

 

[Qlds007]

Yes but some of us still talk with an English ascent.

 

[Gordon Farkus]

MH, sorry I can't be any help with the refinancing advice (crystal ball stuff) but can you please explain the rental rate on IP01 for the F/Y being less than the actual initial rental figure you provided? How is that so?

Yep, I don't understand that either... Can someone please explain?

 

[Modal Harmony]

Hello again all, firstly thanks to Richard & Gools for your feedback - much appreciated!

Secondly, spreadsheet has been redone - there was an error where PM & maintenance costs were doubled up, hence the poor rental value. I missed a cell in the sheet (dolt! ). IP01 now looks better (albeit a little down since the tenant moved out a few weeks ago and we are seeking another one). Also the PPOR value was a little low.

Any other thoughts folks??