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Good luck Mara the trick is to get started … all the rest will follow ;-)
JohnnyK
If the deal sounds to good to be true ... dont worry it will be ...lol ...
My biggest mistake I think was not starting investing 20 yrs ago …. But certainly spend time researching all the ins and outs, reading books talking to people, that have been there done that and researching areas to buy in ..
JohnnyK
If the deal sounds to good to be true ... dont worry it will be ...lol ...
Never use a bank for advice they just tell you whats good for them not you.
There to forms of debt, good debt and bad debt good debt is tax deductible like a IP and bad debt is not tax deductible like debt on the home you live in.
Equity gives you the ability to borrow for good debt in an IP.Pay off all your bad debt asap (home you live in) as this isn’t tax deductible
And claim the good debt as a tax deduction
I used equity in my home I live in to purchase 3 properties this year which are all returning over 8% which I think is a good return at the moment.
It will get tricky for you if you move from one property to the other as far as you go and you need to speak to a professional about that.
Cheers Good Luck
JohnnyK
If the deal sounds to good to be true ... dont worry it will be ...lol ...
Regional NSW …. :-)
JohnnyK
If the deal sounds to good to be true ... dont worry it will be ...lol ...
Using Steves rule the following is my 3rd property with this rule 8.4% and each has been getting better returns .. but the trick is in the research finding properties which are straight away returning $$$ .. I don’t see any point in putting my money into subsidising someone else’s rent
$220/w x 52 = $11440
$11440 / $135000 x 100 = 8.4%
4.5% interest plus 1% = 5.5%the other two properties return 7.6% and 8.2% all bought this year
JohnnyK
If the deal sounds to good to be true ... dont worry it will be ...lol ...
Hi Dean
Its looks like its July 2016 mate still another year away and its Mortgage duty … Not stamp duty … Cheers
JohnnyK
If the deal sounds to good to be true ... dont worry it will be ...lol ...
