AMA - pay off you home in 7-10 yrs

[seekingtruechurch]

@glmlost Not true. The Defence Department just funded 100% of my project. No debt, no risk on my side.

 

[mnfanboy4life]

@glmlost Congratulations but you’re also counting 2 chickens before they’ve hatched.

Say we see 3 more rate rises this year, you’re not at all concerned about your ability to get finance/serviceability?

 

[glmlost]

@mnfanboy4life Agree, there is risk here.

But cash in the offset can be drawn down, stage 3 tax change coming soon, and worst case we bail out of IP1 at a profit to bring finance and serviceability back for what is needed for 2 and 3.

 

[resjudicata]

@glmlost What would happen if a building is a dud and the value drops 50%?

 

[glmlost]

@resjudicata I’m screwed. But, working with good buyers agent and builders with 100% success rate mitigates this risk.

 

[resjudicata]

@glmlost I'll believe you've tried to mitigate risk.