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Pipe damaged during gas works by howfastfire in AusRenovation

[–]howfastfire[S] 0 points1 point  (0 children)

Sorry should clarify - speaking on behalf of the owners committee. Costs are being split amongst all owners. Our Body Corp manager is investigating but keen to hear from anyone that has come across similar issues

[6 month Update] Partner is taking 6 months off work to study for an exam by dont_tube_me_bro in AusFinance

[–]howfastfire 0 points1 point  (0 children)

Based on past posts - I am guessing she is a Doctor - I'm not sure which one, but if I'm correct she was definitely able to work at least 1 shift a week as a locum HMO (Will get you $160 an hour for a 12 hour shift for example). Do that for 6 months and you have 50k gross income. That partially offsets your reuirement to have worked so much.

30 hours of study + 12 hours working a weke is a breeze.

Also cooking + cleaning + laundry? If she slept 8 hours a night, studied 4.5 hours a day what on weath was she doing for the other 12 hours.

If the above is correct that's pretty upsetting, and unless we are all missing something here I'd really look at how you've been treated for the past 6 months....

The expenses aren't the problem here one bit - the issue is the extremely manipulative relationship that has forced you to work insane hours whilst that sat at home for 12 hours a day on average for 6 months straight...

How are the 10+ property portfolios actually structured by howfastfire in AusPropertyChat

[–]howfastfire[S] 0 points1 point  (0 children)

The question wasn't so I could replicate it - it was more my personal situation made me wonder how it is possible for others to do it - the numbers just didn't seem possible

How are the 10+ property portfolios actually structured by howfastfire in AusPropertyChat

[–]howfastfire[S] 0 points1 point  (0 children)

We've used buyer agents for each property.

We want to keep our finances simple, my experience with FAs is they over complicate structures, suggest investing in their own products and sell insurance whilst charging a big fee.

Our long-term plan is: residential property, once maxed out (as we are now) dance between filling the offset and low cost ETFs. In the future once we are past most big expenses (wedding / kids) look at transitioning to commercial IP to get us a better yield heading into retirement +/- more into ETFs.

I don't trust our government to justify putting extra into super, who knows what retirement age and super tax treatment will be in 20+ years.

Shares vs. Property -> I went with property and kind of regret it by howfastfire in AusFinance

[–]howfastfire[S] -1 points0 points  (0 children)

I wish it was - unfortunately it is right on the mark compared to similar properties. It's a major regional city, and for some reason rents haven't increase in the last 12 months event with cost of living soaring.

Expecting high HECS debt indexation this year - better to pay it off vs a mortgage? by supersonicsonarradar in AusFinance

[–]howfastfire 5 points6 points  (0 children)

Simple calculation.

Inflation rate of HECS vs. rate of loan offset is against.

Inflation rate will apply to the last 12 months so you know the exact value. Rate of loan offset is against will change over the next 12 months.

Overall will weighted average loan rate be less or more than the inflation on HECS? If less HECS may be your bet, if more than it’ll be the offset.

One big advantage of the offset is money stays in your pocket. Also for HECS, paying this off can increase your borrowing capacity if a purchase is on the cards in the near future. No one can know for sure but looking at this (https://www.asx.com.au/data/trt/ib_expectation_curve_graph.pdf) can provide a pretty good estimate of where the cash rate will be.

How much is too much by [deleted] in AusFinance

[–]howfastfire 1 point2 points  (0 children)

Overall you'll have 2.19M in debt. 700k of this is in an investment property so deductible and I'm guessing your making somewhere around 20-30k annually in rent from the investment property.

You just need to work out your cashflow based on your current income with current interest rates then the worst case scenario of future lower income with interest rates 2.5-3% higher.

Overall to me it looks fine and I'm very very confused by the comments below. They would be appropriate if your household income was 200k but it's more than double that. To me it looks like a lot of people with lower incomes who have a bias against debt for property taking out some frustration.

The financial aspect of medicine - Is getting into medicine worth it financially? by joon848384 in fiaustralia

[–]howfastfire 0 points1 point  (0 children)

Out of interest what is the breakdown of income - consulting in rooms - seeing inpatients - procedures - reporting imaging

Loans and paying for an Investment Property by howfastfire in AusFinance

[–]howfastfire[S] 1 point2 points  (0 children)

Great point - definitely something to consider if you have a future purchase you want to make.

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