I must say you guys are doing a fantastic job and its handy being in Brisbane. I could see how much money we have wasted on our first property in Sydney and has not helped at all. I wish I had seen these videos before. But its never too late!
Absolutely loved this video. As a fellow Aussie I really appreciate your efforts mate. Thank you so much for this valuable information Hunter Galloway:)
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Yeoow thanks @MaxLuxton for the shout out! And go Queenslander tonight for the origin!! Mate for the comment I'd love to shoot you a copy of our book home and hosed, send me an email with your address and I'll get it into the post - jayden.vecchio@huntergalloway.com.au
Martinez is legit and reliable. (NO UPFRONT PAYMENT) Have worked with him some months back and believe me he’s one of the legit hackers he’s the best if you need help with paying off debt ,credit score fix , credit card ,bank account,phone hack, PayPal hack . Contact him on +12013507159 via WhatsApp Mail him on martinezraber@gmail.com
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Should Invest extra money into the market? My index has been making an average of 8% and my home loan is only 3.3%. Also if I put it into super I only pay 15% instead of 32%.
@Ben man this is the ultimate question. Probs best to see a financial adviser or hit Louis Strange @ Acute Finance (we used to do the Rentvesting Podcast together) to run the numbers for you. You can also get property exposure via REITs and listed Real Estate trusts in the market, just depends if you're looking for capital gains / yield / a home to live in. Lots of variables.
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Say you've paid off your first house and you are debt free.... then you decide you want to upgrade but you DON'T want to sell the original house and instead decide to rent it out and use the rental income towards a new loan? Are there a lot of costs involved in doing this?
Thanks Hard Yakka, great question. There shouldn't be too many costs involved with keeping the existing property outside of the costs you'd already be paying. It might be a good idea to get some advice from a tax accountant to make sure the set up it tax optimised. Happy to discuss more details, feel free to hit us up on our contact form on our website.
Thanks Fernando, hope you're well. If your loan repayment is $2,000 a month, that means you'll pay 12 monthly repayment of $2,000 in the year (which totals $24,000). If you half the monthly repayments and pay fortnightly, you'd pay $1,000 per fortnight over 26 fortnights which totals $26,000 in total repayments. Therefore paying $2,000 extra each year. Some lenders will default your fortnightly repayment not to $1,000 but to your monthly repayment annualised out and then divide by 26 or in this example $923 per fortnight so that you only pay the minimum required of $24,000 per year. Please also check out: www.huntergalloway.com.au/home-loan-extra-repayment-calculator/
if you have a 100% offset account and you put all your weekly income to your offset account does it still matter you are on interest only loan or pay extra money to your loan? For example, if your home loan is $800k and you have $800k cash in your offsets account are you still be charged interest on your home loan account? Thanks
I have fixed the home loan for 2 years and it ends next month. I still owe 300k to the bank. 1. If i sell the property after 2 months, should i need to pay a penalty? 2. If i shift to another bank, should i need to pay a penalty?
Hey Naveen, yeah good questions - 1. If you sell the property within the fixed rate period you will pay early repayment fees - if the fixed rate has ended and it reverts to variable there shouldn't be any fixed break cost penalties. You can confirm this 100% with your bank. 2. Similar to the above, if you are on a variable rate there wont be any fixed rate penalties. Good luck and if we can help out at all hit us up. Cheers, Jayden.
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I'm looking at buying a unit towards end of this year. I'll be looking around $480,000 ish no more than 550,000 can afford to repay around $800 a week repayments should be around $500 ish a week. I work 60 hours a week with 2 jobs Mon-Fri in Sydney ... My goal is to pay off loan in 5-6 years and be debt free by the time I'm 45 (38 now) ... I also want a new car (corolla) and even looking a 2nd or 3rd unit/home suggestions? ... Sydney is damn expensive.
Thanks Always Winning, that's certainly all very achievable. The key will be to purchase a property that is affordable and allows you the ability to pay extra repayments. You can play around with mortgage repayments, plus how quick you'd pay off the loan with extra repayments here: www.huntergalloway.com.au/home-loan-extra-repayment-calculator/
Wouldn't another advantage with fortnightly over monthly repayments be reduction in interest paid from each payment. This is due to banks calculating interest daily. The above is assuming no asset home loans ie fixed rate loans.
Hi Michael, this video explains everything you need to know about weekly repayments and the benefits. Thanks for watching! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-uBwUrV9fWlk.html
Hey Tom, mate so sorry about this. From what I can see youtube doesnt allow me to edit the video once ive uploaded it. In our more recent videos we sorted this out, sorry again!
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Hey Patrick, depends on your situation - at the moment P&I interest rates are a little bit cheaper than interest only on investment so best to crunch the numbers and see what the trade off is between lower costs on the P&I repayments, and higher cashflow with lower monthly repayments using interest only on the investment.
@@MortgageBrokerAustralia yeah I noticed that p&I are cheaper now. It's because the government are trying to slow down investment loans and increase owner occupied loan's
Greetings to you all. I want to use this opportunity to thank Mr Jason James for making me whom are am today. I was in debt and I needed loan to pay off my bills, a friend of my introduce me to Mr Jason James I was told that he is helping people with loan so I contacted him via email jasonjamesloaninvestment@gmail.com after five days I applied for a loan of $80,000 immediately I received my loan is my bank account. I don't know if you also need a loan today contact Mr Jason James via email. jasonjamesloaninvestment@gmail.com or Whatsapp +2349068747294 for more information.
Martinez is legit and reliable. (NO UPFRONT PAYMENT) Have worked with him some months back and believe me he’s one of the legit hackers he’s the best if you need help with paying off debt ,credit score fix , credit card ,bank account,phone hack, PayPal hack . Contact him on +12013507159 via WhatsApp Mail him on martinezraber@gmail.com
It's harder but not impossible! It comes down to research, and where you are buying. We have clients that have bought positive cash flow properties in Queensland, you just need to look outside of the popular areas. It comes down to research, I suggest using DSR score and SQM Research as great tools to work out cash flow www.huntergalloway.com.au/research-home-in-brisbane/ thanks for the question! 🙌
There are also different strategies to get positive cashflow, what type of property, is it residential vs commercial. Is it rental or air bnb. Just remember to do your research!
Martinez is legit and reliable. (NO UPFRONT PAYMENT) Have worked with him some months back and believe me he’s one of the legit hackers he’s the best if you need help with paying off debt ,credit score fix , credit card ,bank account,phone hack, PayPal hack . Contact him on +12013507159 via WhatsApp Mail him on martinezraber@gmail.com
Awesome..I have 3 homes., 2 investment with 1.25mil and my own outstanding Amt 420k.. what do you suggest for strategy? I am planning weekly payment and have offset acct for owner occupied..have taken variable for 1.25mil investment houses.. how do you suggest I pay off all soon?
Thanks Chit, feel free to work out extra repayments and how soon the loan will be paid off here: www.huntergalloway.com.au/home-loan-extra-repayment-calculator/ It might also be wise to speak with an accountant to discuss the best strategy from a taxation perspective too.
Greetings to you all. I want to use this opportunity to thank Mr Jason James for making me whom are am today. I was in debt and I needed loan to pay off my bills, a friend of my introduce me to Mr Jason James I was told that he is helping people with loan so I contacted him via email jasonjamesloaninvestment@gmail.com after five days I applied for a loan of $80,000 immediately I received my loan is my bank account. I don't know if you also need a loan today contact Mr Jason James via email. jasonjamesloaninvestment@gmail.com or Whatsapp +2349068747294 for more information.
Greetings to you all. I want to use this opportunity to thank Mr Jason James for making me whom are am today. I was in debt and I needed loan to pay off my bills, a friend of my introduce me to Mr Jason James I was told that he is helping people with loan so I contacted him via email jasonjamesloaninvestment@gmail.com after five days I applied for a loan of $80,000 immediately I received my loan is my bank account. I don't know if you also need a loan today contact Mr Jason James via email. jasonjamesloaninvestment@gmail.com or Whatsapp +2349068747294 for more information.
Started using YNAB App. It's really wonderful and you keep track of every $ to the cent. Would 100% recommend it to everyone looking to manage or budget money efficiently.
@Tayyab haha funny you say that, YNAB is Nathan's go to. He pretty much uses it daily, really great app. I might even get him to do an ep on budgeting with it. Cheers, Jayden
Martinez is legit and reliable. (NO UPFRONT PAYMENT) Have worked with him some months back and believe me he’s one of the legit hackers he’s the best if you need help with paying off debt ,credit score fix , credit card ,bank account,phone hack, PayPal hack . Contact him on +12013507159 via WhatsApp Mail him on martinezraber@gmail.com
🤣 how much cash do you have? Could be like this dude and get a property for $13,000... could defo do that with all cash 7news.com.au/business/property/man-who-thought-he-bought-first-house-furious-after-it-turns-out-to-be-30cm-strip-of-land-c-168750 hahaha!!
Martinez is legit and reliable. (NO UPFRONT PAYMENT) Have worked with him some months back and believe me he’s one of the legit hackers he’s the best if you need help with paying off debt ,credit score fix , credit card ,bank account,phone hack, PayPal hack . Contact him on +12013507159 via WhatsApp Mail him on martinezraber@gmail.com
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