Grind is exaggerating as usual but the idea is right.
$400k at 3% growth only, ends up as $982,737 over a 30 year mortgage.
This is a highly achievable return, which is average, and wouldn't include any development upside.
What the bears fail to include is the mortgage is paid off at 30 years max, AND the rental stream is perpetual.
The gross figures are this.
$40k deposit
$360k (of Steves savings via bank LOL)
(obviously +/- stamp, grants etc)
At 30 years $942,737 gross
2356% gross ROE or 78.5% pa on original investment.
and a retirement income stream for life.
and there my bear friends is just 3% leveraged mortgage growth over the life of a very average property.
now let's do Steve's cash in bank - rotflmao.
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Grind is exaggerating as usual but the idea is right. $400k at...
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