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From: Michael Howser
Hello to all you fine folk out there
Anyone mind helping out a newbie (wannabe?)
I'm standing on the edge of the pool, looking down at you folk swimming round in the world of PI, and the water looks oh so good!
I've read all the recomended books/sites/forums/etc and I know I just have to plunge in, but one think is holding me back. I'm not very good with my numbers.
Either that, or I'm missing some of the key ingredient somewhere.
I want to positively gear my properties, but with the amount that I would need to borrow (even to get a VERY modest house) I can't see how I could meet repayments on the loan and gear positively. Am I trying to bite off too much? Would I be better to save a bigger deposit, and hence borrow less? Or should I negatively gear this first investment and pay it off asap with the intention of using the (then positive) income to offset my next purchase and so have a positive folio?
I hope these questions don't seem too stupid.
Kind regards,
Michael
(TwoThree)
Hello to all you fine folk out there
Anyone mind helping out a newbie (wannabe?)
I'm standing on the edge of the pool, looking down at you folk swimming round in the world of PI, and the water looks oh so good!
I've read all the recomended books/sites/forums/etc and I know I just have to plunge in, but one think is holding me back. I'm not very good with my numbers.
Either that, or I'm missing some of the key ingredient somewhere.
I want to positively gear my properties, but with the amount that I would need to borrow (even to get a VERY modest house) I can't see how I could meet repayments on the loan and gear positively. Am I trying to bite off too much? Would I be better to save a bigger deposit, and hence borrow less? Or should I negatively gear this first investment and pay it off asap with the intention of using the (then positive) income to offset my next purchase and so have a positive folio?
I hope these questions don't seem too stupid.
Kind regards,
Michael
(TwoThree)
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