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Hi guys, It's Chris here Jo's husband and I just want to put in my 5 cents worth. Basically the way it will pay off the line of credit is by putting rent and tax benefits (via tax variation) into the mortgage along with both our wages reducing the interest paid on the principle amount. (interest being calculated daily and charged monthly although I shouldn't have to remind a MORTGAGE BROKER of this!?!?). The cost of $130 per week is the "shortfall" difference between the holding costs (OUTGOINGS) including repayments, management etc… on the property and the amount of return (INCOMING CASHFLOW) including the rent and the tax benefits via, as mentioned earlier income tax variation form section 15/15 see ato website for details. Before we attended the session with ABC Jo was looking for some POSITIVE feedback about any companies that could help us step into investing because as you can all see just about EVERYONE is talking negative and we have seen a lot of tall poppy syndrome around and people making every excuse under the sun NOT to invest. We do not need to put up with that from friends or family OR any "open forum" it seems not much gets questioned except for positive feedback?!? I believe a certain amount of scepticism is required in life but at some point you also need to take a plunge. Worst case scenario we can always sell it and if we need to cop a loss I will put it down to life experience. To anyone that has bothered to read this far I would happily reccomend ABC, it's early days yet, but so far we are very pleased with the service and professionalism they have shown. I would like to wish everyone happy investing in the future. Chris.
We know they are related to The Asian Pacific property group but i don't know about Premier Finance.
Regards
JoanneRichard
With $430 a week rent plus tax benefits we can reduce the interest paid through our line of credit and this will help us reduce our debt faster than we can by our selves.
Regard
Joannesorry Anne,
I have no idea what you mean, I'm just someone that wanted to share the story I have with others.
Sorry if i have offended you with my grammatical errors, I sometimes get a little carried away and don't reread what I'm about to post.
If you have any questions about my post I hope I can tell you from what I know, which is limited as my husband and I are just learning and go through this process for the first time. But I'm sure we can ask our consultant from a Better Choice as he seems to be happy answering any questions we have had thus far.
Regards
JoanneHi S
The property is negatively geared and is only 4 years old.
It's only costing us $130 a week with a 7% return.
We are planing on holding on to is for 10 years, using it as a tool to pay off our mortgage.
It has a 5x 5x 5x 5years lease
It shows that some times it pays to talk to telemarketers because you never know when that phone call called help you become a property investor!
Regards
Joanne
