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It's not a rental and they don't want to move! But yes if they...

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jlov3

1,917 Posts.

21/05/18

10:28

Post #: 33226867
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Originally posted by Forged ↑

I had interest only loan on my rental property that I purchased back in 2007, with an intention of negative gearing benefits. It cost me $310k back then. Then I started paying interest + principal back in 2015. If I sell this house today, the market value is $650k.

So I don't think your friends will have a problem when they are paying interest + principal. Most probably they are on negative gearing, it means, they are paying less income tax. Less income tax = more money in their pockets. Worst come to worst they just need to sell the house & pocket the capital growth profit like me.

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It's not a rental and they don't want to move! But yes if they are forced to sell they will be up at least $400k as the area has done very well (seaholme)
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