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#1
11-11-2020, 06:48 PM
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Put 50k down deposit, and another 60k for renovations into a new investment property.
110k in the sink on this baby, hopefully in 10-15 years I will reap the rewards as a tenant will pay a chunk off the mortgage off, and the suburb has 3-5% gains per year. Time to regen more investment funds and get another one in a year or so. This one is going to push mine and my partner's passive rental income to 60k per year before tax and all that, hoping the next one will get us to 100k, then when she gets pregnant she won't have to pay high taxes on her half while she raises the bub as it will be her only source of income - It's called planning ahead. Right now our income tax is high because of the double income and then rental returns been added on top. The tax man doesn't miss you that's for sure. | ||
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Last edited by White_knight; 11-11-2020 at 06:56 PM..
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#2
11-11-2020, 06:53 PM
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On side note, started this week with 'stocks' aka ETFs since the return on savings is shit due to low cash rate.
Never ever thought I would do anything with stocks, always looked to highrisk and just a form of gambling - however have setup an automatically debt of 240$ month into ETFs till I can figure out and learn more about stock trading along the way. Figured a year or two of 240$ month into ETFs could net a bit of a return I can keep rolling on till I get big boy pants on and then pull the EFTS and put it directly into stocks. | ||
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Last edited by White_knight; 11-11-2020 at 06:58 PM..
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