Purchase Price: $450k
Rent: 34k pa
Expenses: approx $12.5k not incl mortgage
Mort: Assume 80% of purchase.
Seems to me to not be cf +ve, but I'm working on a regular table mortgage which is I think about $2460 / mth or 29.5k pa. The interest portion of that is, if my calcs are correct, approx $1700/mth or 20k pa which makes it cf +ve.
Go for it, or do as Iron Maiden suggested?
Rent: 34k pa
Expenses: approx $12.5k not incl mortgage
Mort: Assume 80% of purchase.
Seems to me to not be cf +ve, but I'm working on a regular table mortgage which is I think about $2460 / mth or 29.5k pa. The interest portion of that is, if my calcs are correct, approx $1700/mth or 20k pa which makes it cf +ve.
Go for it, or do as Iron Maiden suggested?
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