Hi all,
I am new to this site but it looks great, I have read a lot of threads but I am still confused.
My problem is; I need a mentor, near Waikiki WA.
My reason is I understand negative gearing, and I guess positive gearing to some degree. BUT….
I have a rental property which I owe $110, 000 on. I now am about to begin to neutral gear, soon after positive gear, and do not know what to do, we are looking at buying a home at the end of the year to live in, so we will off set it so we negative gear again on the investment.
So we will then owe $200, 000 (approx 1500 pm- we only get $960 pm rent) on the investment and approx $220,000 (approx $1700pm) on our own house. So we are out of poc $2240pm not including rates, fees etc. That is stretching our finances to their limit if not just over at this point in time…
With the interest rates how they are, how do we get another investment property, you can only negative gear to a certain extent as we would have to get another job to pay for another property….
I don’t understand how to keep buying properties as when do you get the chance to positive gear…. Mortgages these days are bigger than rent received….
If anyone has any advise I would love to hear it...Please... I am reading books, listening to CD but none of them answer this question... Where does the cash flow ever come into play..
Thanks for your time
Chara79
I am new to this site but it looks great, I have read a lot of threads but I am still confused.
My problem is; I need a mentor, near Waikiki WA.
My reason is I understand negative gearing, and I guess positive gearing to some degree. BUT….
I have a rental property which I owe $110, 000 on. I now am about to begin to neutral gear, soon after positive gear, and do not know what to do, we are looking at buying a home at the end of the year to live in, so we will off set it so we negative gear again on the investment.
So we will then owe $200, 000 (approx 1500 pm- we only get $960 pm rent) on the investment and approx $220,000 (approx $1700pm) on our own house. So we are out of poc $2240pm not including rates, fees etc. That is stretching our finances to their limit if not just over at this point in time…
With the interest rates how they are, how do we get another investment property, you can only negative gear to a certain extent as we would have to get another job to pay for another property….
I don’t understand how to keep buying properties as when do you get the chance to positive gear…. Mortgages these days are bigger than rent received….
If anyone has any advise I would love to hear it...Please... I am reading books, listening to CD but none of them answer this question... Where does the cash flow ever come into play..
Thanks for your time
Chara79