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  1. #21
    Join Date
    Jun 2004
    Posts
    10,364

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    Quote Originally Posted by Davo36 View Post
    Yep, 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.
    Thanks.
    That is my money management preference also - keeps me in control.

  2. #22

    Default

    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.

  3. #23
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    793

    Default

    Quote Originally Posted by Nick G View Post
    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!
    Yes I agree
    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 !)

  4. #24

    Default

    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.

  5. #25
    Join Date
    Oct 2013
    Posts
    1,613

    Default

    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 Accounting - AATAccounting.co.nz
    Lower fees for investors, traders & real estate agents!
    [email protected] for more information.


 

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