Originally posted by Joshua Fong
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Commercial property in Tauranga
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One of my clients has recently negotiated a two year interest only period on a commercial loan. Though the total loan term is still only 15 years, so the P&I will be pretty crippling come early 2019.AAT Accounting Services - Property Specialist - [email protected]
Fixed price fees and quick knowledgeable service for property investors & traders!
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Originally posted by Wayne View PostRecently ?
The loan was entered into a few years ago, but they roll over the interest free period every 12 months without any fuss.
I prefer to save up money (I can do this without spending it - these days) and pay it off at the end of the 12 months. That way I keep my repayments as low as possible (in case the s**t hits the fan).
It also means should something come up to purchase, I have some cash on hand to buy etc.Squadly dinky do!
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Originally posted by Davo36 View PostYep, like right now.
The loan was entered into a few years ago, but they roll over the interest free period every 12 months without any fuss.
I prefer to save up money (I can do this without spending it - these days) and pay it off at the end of the 12 months. That way I keep my repayments as low as possible (in case the s**t hits the fan).
It also means should something come up to purchase, I have some cash on hand to buy etc.
That is my money management preference also - keeps me in control.
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Ditto. Although I have a loan that rolled back to P&I and I have it 100% offset. It's kind of nice just to watch large chunks disappear each fortnight off the principal, I should be more efficient tho!Free online Property Investment Course from iFindProperty, a residential investment property agency.
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Originally posted by Nick G View PostDitto. Although I have a loan that rolled back to P&I and I have it 100% offset. It's kind of nice just to watch large chunks disappear each fortnight off the principal, I should be more efficient tho!
I also think paying off the debt is a great thing ...you get the best return for your $$$ ...You can always re-borrow if a great deal deal comes up!
But one curious question Nick G Do most of your tenants pay fortnightly ?
The reason why I ask is I try to match inwards cash with outwards cash IE rents mainly come in on the 1st so mortgage goes out on the 1st too! (Although I wish ALL my residential tenants paid me 12 months in advance it is great for the cf !)
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Hi Beano, my places are managed. I get money for one each week and the other 2x a month. Loans go out every fortnight.
I'd like to invest in commercial, is that usually fortnightly or something else?Free online Property Investment Course from iFindProperty, a residential investment property agency.
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Commercial can be anything you stipulate in the contract. Could pay rent once a year, or twice daily if you so desire.
But it's usually monthly.AAT Accounting Services - Property Specialist - [email protected]
Fixed price fees and quick knowledgeable service for property investors & traders!
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