“The real two levers when you're thinking about buying a property is how much money am I going to have left over after this? And then how much money am I repayments going to be?”
Pat Noll · Equity Mates Investing Podcast · Ask An Adviser: Where property is heading, debt recycling and the future of rentvesting with Pat Noll
Play from 41:51
41:51
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What was described
Conducted a spending audit to identify where dollars go and balance leftover cash versus mortgage repayments
Said nearby on the same subject
“At 5.3% for a 30-year mortgage… $1 million mortgage is a $2 million repayment… if the bank of mom and dad gives you $100,000 you only need a $900,000 mortgage… you saved $200,000”
SK
Simon Kirstenmacher
Demographics Decoded - Unveiling the trends shaping your future ·
Data play5.3% interest rate, $1 million mortgage, $100,000 gift, $200,000 savedShare this moment
“Emergency funds can sit in revolving credits or offsets… it’s just there to break glass… you can try and go a little bit harder on my mortgage repayments and I’ve got that money set aside if I need it.”
“We're going to send you a one-year subscription to EveryDollar… 100% of the time I put someone on a detailed written budget where they spend every dollar… before the month begins”