Posted by chris on April 25, 2000 at 02:51:15:
Leon-
Please check this information against the standard for your area in New Zealand since I am in the U.S.
I wasn’t for sure what Perm/mat units were?
Your Gross Rent Multiplier(GRM) is just over 10. What is the norm in your area?
You say that you need to borrow the entire $250K at 8% and you come out with $1600 per month. How was that calculated? Interest only on $250K at 8% is over $1600 per month. Have you figured expenses to see if you will have a positive cash flow?
How much does the seller still owe on the property? Is he willing to assist with the financing? What does the seller need?
-Chris