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I don't think its enough. Depends on how you feel about risk and the size of your portfolio.
Thanks guys some great posts much appreciated. Can I then ask another question. I have an IP (only one at the moment) that is generating fantastic returns due to the low interest rates etc.... I was wondering how this will impact me in terms of tax. Should I be purchasing a negatively geared IP to offset this?
Thanks guys some great posts much appreciated. Can I then ask another question. I have an IP (only one at the moment) that is generating fantastic returns due to the low interest rates etc.... I was wondering how this will impact me in terms of tax. Should I be purchasing a negatively geared IP to offset this?
Lov'n it and didn't expect to be gaining so much.You don't like making money
12 months of loan repayments/living expenses, say 50K. This wil give plenty of time to sell down if need be and recover from a catastophic event. Nothing worse than being an unemployed/sick/desperate vendor.
Evening All, I watched a Nathan Birch youtube clip where he talked about buffers. He claims $5K per IP is enough. Just wondering how much others have i.e a percentage or do you think $5K is ok?
12 months of loan repayments/living expenses, say 50K. This wil give plenty of time to sell down if need be and recover from a catastophic event. Nothing worse than being an unemployed/sick/desperate vendor.
If all your properties are cashflow positive (which Nathan's properties usually are) then 5k might be enough to cover any gap between change over in tenants
If your properties are barely neutral or negative I would err on the conservative and allow more of a buffer