Zero to infinty

Discussion in 'Property Experts' started by Brian84, 14th Apr, 2017.

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  1. Tanya1335

    Tanya1335 Well-Known Member

    Joined:
    16th Apr, 2017
    Posts:
    176
    Location:
    Logan City
    You can only pay off what you can with your income, obviously the higher the income the quicker you will pay down your mortgage, however any income low or high can do this, it just takes long if you are on a lower income. At times people on lower incomes budget better and payout their mortgage quicker because they don't get caught up keeping up with the Jones or another fake life style
     
    Brian84 likes this.
  2. Daniel36

    Daniel36 New Member

    Joined:
    15th Jul, 2017
    Posts:
    3
    Location:
    Sydney
    Beware of this group that is what I would say. I have no experience in investing in property, but a friend of mine who went with them (Their advise and their property) has been struggling in life since then. He bought in an area where there is no capital growth no increase in rentals or anything. Instead of paying off his loan he is now on the verge of nervous breakdown with all the mortgage Stress that this company has given him. He is trying to sell the property but is not able to do that either.
     
  3. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,685
    Location:
    Perth WA + Buderim Qld
    I would suggest they've got the IP's on a line of credit that's capitalising the interest, using all rent and personal income to pay off the HL.

    If they're on high income, it's possible then. Not for most people though.