Hey guys, seeing as its so hard to find +ve Cash flow property now days is it good to find property that might cost you say $50-$100 a week on top of the rental income to cover the loan repayments ?
eg. a $110,000 house/unit getting $150 week rent..
I dont earn a lot of money, $34,000 a year.. So im not able to borrow huge amounts..
My first IP i purchased 6 months ago cost me $125,000 and is reciving $155p/w rent.
So after rent it costs me about $60 a week…Would it be worth my while to buy another place similar to this ? (asuming I cant find a +veCF one)
Thanks
if you do you wont pay much tax at all !
better educated people ( than me ) can show you how to apply (to the ato)to have your deductions decreased (out of your pay and up front ) so you get some money to live off
mine were negative at first i waited a few years and the rents went up
.its a good feeling
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