Bonus 3: How to Get Your Mortgage Covered in 6 Months, With as Little as $65,000 of Available Equity or Cash
$2,117.50 a month is what you clear after all costs ($25,410 a year). That’s paying for your management fees, insurance, local rates and your interest based on a 106% loan at 3.5%… and yet that’s still clearing over $488 a week.
That’s enuogh money left over to pay the principle and interest on a $500,000 home loan.
Note: the high end of expectations is at $64,241 a year, $1,235 a week after costs.
Take Home $25,410 a Year
Thanks to these government backed rents, after paying all the interest and management costs involved, $25,410 is the lowest amount you are looking at taking home.
At the higher end you’re potentially clearing $64,241 a year.
But I want to make this clear, we will never build an expectation around this top end figure
That’s $2,117 a Month
How much are your monthly mortgage repayments?
Does that cover them?
That amount will cover the principal and interest repayments on a $500,000 loan.
So if you get one of these properties, and all you get is the low end of the rent range, you can cover the entire repayments on a $500,000 loan.
Get Started With $65,850
To get going all you need to cover is the a 10% deposit, the typical costs of stamp duty and legal fees, as well as the onboarding fee. All the other costs can be covered during construction.
In as little as 6 months we can have your entire mortgage covered. This investment will send you $2,117 a month to more than cover your mortgage