Why You Shouldn't Pay Your Mortgage (do this instead)
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- เผยแพร่เมื่อ 15 ต.ค. 2024
- Choice 1: mortgage free but you have to 40 hours a week until 65.
Choice 2: take on millions of dollars of debt for the chance to retire years, or decades, earlier.
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I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Kathleen Chandler.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
she's mostly on Telegrams, using the user name
fxannchandler 💯 ..that's it
Most people are retiring this year and has nothing to show for. But I assure you it’s never late to get your financial life together again.. All thanks to Kathleen Chandler for I and my family
The problem with 1:40 - 2:10 is that in 1 scenario you are investing with $100,000 in both scenarios. However in the property scenario you have $400,000 of debt. You can also do the same scenario with shares and take out a $400,000 margin loan and then if both asset classes went up 10% you achieved the same return. However, most index funds charge you between 0.1% - 0.5% fees vs a property manager who is charging you 8-10% on your rent and on top of this you need to do repairs, rates, strata, water bills etc. Vs the shares which have the 1 costs.. that 0.1% and 0.5% fee.
This is not an apples for apples scenario.
I’d be interested in seeing an updated unit block video. Pros and cons of that high cashflow property.
Very hard to get positive cashflow properties now.
Look regional with 20% down
@@jyattard1081 under 500K
i actually intend to pay off my home and then reuse the equity to use that as an investment loan, personal home loan debt is not tax deductible, what you pay off can instead be reused as equity towards an investment, this i think is smarter as it both reduces your expenses overall and increases your borrowing capacity, you pay less tax by claiming tax deductible interest on investment loans, and your recycling that bad debt to something you were going to do anyway. mind you, i can achieve this because i already had bought a property during covid with the intent to sell when the market was going to be inflated, and i am using those proceeds to pay off my home. inflation is man made and is working as intended, if you anticipate the market before it happens you can benefit from it, and property has a long time to reflect or change accordingly so you have more time to buy or sell your position when the trend is not to your benefit, unlike the sharemarket
What about your equity loans? Do you have to pay minimum repayments on that? Or does it just build interest and you claim back on that interest built?
we have been in a bull market for years. People think their investment properties will just keep going up 20, 30, 50% per year for the duration of their 30 year mortgage...We have had an explosion of buyer agents and property investment gurus thinking they cracked the market just because they were fortunate to be in the right place right time. Prices can and will drop or just stay stagnate for years.
I got some bad news for you sir, crunch the numbers and watch what our government is promoting behind the scenes. We are about to see the last generation of homeowners
There is record imagration in Australia and a huge shortage in stock, until this issue is addressed this bull run will continue
Hmmm, you sound exactly the same as the people that told us the same thing back in 2012. The same people
Told us Adelaide is not worth investing. I’m so glad I never listened . Imagine buying houses with 600sqm to 750sqm back then for 200 to 250k in Adelaide where I’m from. Back then, the rent was enough to cover repayments and we only had to cover rates. Those same houses have tripled (even quadrupled on one of our 750sqm corner block) in value. The rental income has increased inline with inflation etc.
The only difference with our current approach is that we are paying down our investment properties by paying P&I. We have five investment properties with positive cash flow. Building generational wealth for our kids and grand kids is our goal.
Good video esp mentioning risk tolerance, which is a must when talking leverage. I can't see a prolonged downturn for most of the Oz for at least few years, but even though its a different market, you just need to look at Auckland since late 2022 to see what can happen.
supply and demand, the immigration taps are open here
@@christopherpalmer4243 true, it was already inflated and a lot of kiwis came home just before then and developers were paying twice the price for many properties until inflation got too high.
The interest on an investment loan can be claimed as a tax deduction if the interest was incurred to produce income. I question how putting some part of the loan funds from an investment loan into an offset account linked to your personal home loan is tax deductible. Everyone, please seek tax advice, call the ATO and do your due diligence on tax matters.
Why sell the baby Queenslander? Given transaction cost is so high, assume you sell it to fund the reno project? Will be good to understand how you decide when to sell, thanks.
How about tax payments? Maintenance? Insurance? That's money out already even if the property value is increasing.
Pretty sure the videos whole point is covering those topics
Well... this guy is in the property market, so he is gonna give the best case scenario. Sort of spruiking. Also depends on the market. Here in Auckland for instance, house worth 1.3 million dollar are renting for $640 a week. With interest rates at over 7%, the investor is paying more than double the rent they get in, assuming they bought in the last 2 years. Also in NZ the labour government has removed negative gearing and we're in the process of removing interest deductibility as well. National is reinstating interest deductibility but NOT negative gearing and I am sure as HL, when Labour comes back in 3 years they will go hard again on landlords. I think most kiwi property investors are speculating on capital growth...and pf course some sort of prestige as in 'I own x properties' talk around the BBQ😂
Hi Luke, thanks for all the video posts, you have been very helpful in my property investment journey. Just a comment on the post & beam supporting the upper floor in time stamp 15:50, have you had a structural engineer to look into it? You might need to use steel beam and post for it instead, just my opinion. Anyway, hope everything is going well on your end.
must have missed your episode were you decided to sell the baby queenslander. i know last year you spoke about it to help fund the reno of your PR.
There will be a full episode on it in the next few weeks
The option pills. I can't XD
Red pill for me! Great content 👏🏼
Mate , firstly happy easter .may the blessings of the risen lord be upon ur family😊😊
Question . I have an IP and no PPOR. I rentvest
I jave kept all my money in term deposits , which i earn interest. ( Its 5.25%)
I have 0$ in offsets.
My loan interst rate is 6.25%
Please let me know if te above make sense ? I mean why should i keep my money in offset ? This way i can claim all the intrerst paid from the ATO during tax filing( If had put my money in offset , then my interst that i could claim drops down😢😢+ i would miss out on interst payments that I earn on term deposits ) . I dont intent ro pay off my loan atleast for the next 30 years and just go Interst only loan..
I earn 90k annual as wages. Do u think is a good idea ?
If not could u explain in detail on. Q&A video please
If you had your PPOR, you should have put all your savings in its offset account. Now, you can still offset your investment interest to reduce the holding cost. Otherwise, what's the better use of your savings?
Can you pull money out of your IP?
@@nasser.fard1No PPOR. I am paying rent ..
@@christopherpalmer4243yes I can .. just wanted to get an opinion on my current case .. could u pls share ur insights ??
@@nasser.fard1 I don't have a PPOR
No one ever addresses the main thing, stability of employment/income to service your mortgage. I’m an electrician who works in construction which is a transient industry, I make excellent money but it’s very difficult to get finance as the job is unstable. Fortunately I’ve already got one investment property while I work FIFO and save a lot on accommodation and food but I’m still having a hard time securing finance.
But but....... don't wanna have a full time job.....i want to do property investment AS my job.
Create lots of active income on higher risk property ventures like development, builds, renos, property management etc.
Luke went hard on the razor 🪒
I have an autoimmune condition called alopecia areata
@@lukewiles1 Thats awful there are spikes in lots of auto immunes since the vac. Detoxing can be helpful.
You look like a jackass now don't you?
why do you have a qbcc license??
Make debt your friend 😂