renting, page-32

  1. The Apprentice
    2,086 Posts.
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    22/02/12
    22:38
    Post #: 9735921
    "...We rent a house for $20K which would cost us $55K in interest only if we had a mortgage on it..."


    Unlikely.

    At a variable interest rate of 7%, $55,000 of payable interest equates to a mortgage of $786,714.

    Anyone else know of someone paying $400/wk rent on a property valued at close to $800,000.

    You must have an extremely generous landlord.

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