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标题: 6 years Journey for Loan repayments [打印本页]
作者: 匿名    时间: 2018-7-4 17:29:53     标题: 6 years Journey for Loan repayments

本帖最后由 匿名 于 2018-7-6 11:49 编辑

This is how I use 6 years to pay back my $590,000 loan.

Between 2013 - 2018, interest was varied, so I used 4.7% as an average (fix, refix at different rates and using different amounts etc and with different banks for 6 years period)

Monthly payment is $9420.00 ( on average is $2355.00 a week)
Total interests paid to the banks: $88,241 ( less some cash back while changing banks for about $7k)

Source of income: Salaries (husband & wife with 1 child) & rental incomes
Sacrifices: heaps, lonely journey.

Family budget: we don't earn a lot, our family weekly budget is $600- $800 for food & expenses. We drive humble cars, child goes to state school nearby ( used 2nd hand uniforms). Our rental property portfolios have grown in value (Assets rich- humble cash flow). We pre-cooked meals, pack lunches etc are our weekly activities. Shopped at paknsave, TWH, purchased valued meals (from groupon, treatme)

Current Status:   The banks have now converted my loan and securities (rentals) to revolving credit (available & unused) for $1.74 million and ready to use anytime, which is 50% bank's valuation on our overall rental properties. Family house is now mortgage free.


Next Mission: With good leverages ($1.74 million in hand), we can now invest and re-invest when the time is right again.Different strategy applies to different time and different era, for the next few years I won't be using the same strategy.

This is a mere record of my closing chapter and the beginning of a new chapter.
_______________________________
Further Notes : 1) The background is before 2013, there was a loan of $1.4 million for properties acquired prior to 2013.
The Loan was reshuffled and paid back after one rental property was sold and left with $590,000. This writing is reflecting the payment of my balance $590K.

2)  Some wonder why I didn't invest more after 2013 and focus on the mission to pay back? Well, that is a different story I will write one day. Different people have different priority and strategy, been different is a lonely journey.

3) Look like skykiwi has now locked this page.


PeriodRepayment AmountPrincipal PaidInterest PaidAccumulative Principal PaidAccumulative Interest PaidPrincipal To Pay
Year 1 Period 1$9,420$7,109$2,310$7,109$2,310$582,890
Year 1 Period 2$9,420$7,137$2,282$14,246$4,593$575,753
Year 1 Period 3$9,420$7,164$2,255$21,411$6,848$568,588
Year 1 Period 4$9,420$7,193$2,226$28,604$9,075$561,395
Year 1 Period 5$9,420$7,221$2,198$35,825$11,274$554,174
Year 1 Period 6$9,420$7,249$2,170$43,075$13,445$546,925
Year 1 Period 7$9,420$7,277$2,142$50,352$15,587$539,647
Year 1 Period 8$9,420$7,306$2,113$57,659$17,700$532,340
Year 1 Period 9$9,420$7,335$2,085$64,994$19,785$525,005
Year 1 Period 10$9,420$7,363$2,056$72,358$21,842$517,641
Year 1 Period 11$9,420$7,392$2,027$79,750$23,869$510,249
Year 1 Period 12$9,420$7,421$1,998$87,172$25,868$502,827
Year 2 Period 1$9,420$7,450$1,969$94,622$27,837$495,377
Year 2 Period 2$9,420$7,479$1,940$102,102$29,777$487,897
Year 2 Period 3$9,420$7,509$1,910$109,611$31,688$480,388
Year 2 Period 4$9,420$7,538$1,881$117,150$33,570$472,849
Year 2 Period 5$9,420$7,568$1,851$124,718$35,422$465,281
Year 2 Period 6$9,420$7,597$1,822$132,315$37,244$457,684
Year 2 Period 7$9,420$7,627$1,792$139,943$39,037$450,056
Year 2 Period 8$9,420$7,657$1,762$147,600$40,799$442,399
Year 2 Period 9$9,420$7,687$1,732$155,287$42,532$434,712
Year 2 Period 10$9,420$7,717$1,702$163,005$44,235$426,994
Year 2 Period 11$9,420$7,747$1,672$170,753$45,907$419,246
Year 2 Period 12$9,420$7,777$1,642$178,530$47,549$411,469
Year 3 Period 1$9,420$7,808$1,611$186,339$49,161$403,660
Year 3 Period 2$9,420$7,839$1,581$194,178$50,742$395,821
Year 3 Period 3$9,420$7,869$1,550$202,048$52,292$387,951
Year 3 Period 4$9,420$7,900$1,519$209,948$53,811$380,051
Year 3 Period 5$9,420$7,931$1,488$217,880$55,300$372,119
Year 3 Period 6$9,420$7,962$1,457$225,842$56,757$364,157
Year 3 Period 7$9,420$7,993$1,426$233,836$58,184$356,163
Year 3 Period 8$9,420$8,025$1,394$241,861$59,579$348,138
Year 3 Period 9$9,420$8,056$1,363$249,918$60,942$340,081
Year 3 Period 10$9,420$8,088$1,331$258,006$62,274$331,993
Year 3 Period 11$9,420$8,119$1,300$266,125$63,575$323,874
Year 3 Period 12$9,420$8,151$1,268$274,277$64,843$315,722
Year 4 Period 1$9,420$8,183$1,236$282,460$66,080$307,539
Year 4 Period 2$9,420$8,215$1,204$290,676$67,284$299,323
Year 4 Period 3$9,420$8,247$1,172$298,923$68,457$291,076
Year 4 Period 4$9,420$8,279$1,140$307,203$69,597$282,796
Year 4 Period 5$9,420$8,312$1,107$315,516$70,704$274,483
Year 4 Period 6$9,420$8,344$1,075$323,861$71,779$266,138
Year 4 Period 7$9,420$8,377$1,042$332,238$72,822$257,761
Year 4 Period 8$9,420$8,410$1,009$340,649$73,831$249,350
Year 4 Period 9$9,420$8,443$976$349,092$74,808$240,907
Year 4 Period 10$9,420$8,476$943$357,569$75,751$232,430
Year 4 Period 11$9,420$8,509$910$366,078$76,662$223,921
Year 4 Period 12$9,420$8,543$877$374,621$77,539$215,378
Year 5 Period 1$9,420$8,576$843$383,198$78,382$206,801
Year 5 Period 2$9,420$8,610$809$391,808$79,192$198,191
Year 5 Period 3$9,420$8,643$776$400,452$79,969$189,547
Year 5 Period 4$9,420$8,677$742$409,129$80,711$180,870
Year 5 Period 5$9,420$8,711$708$417,841$81,419$172,158
Year 5 Period 6$9,420$8,745$674$426,587$82,094$163,412
Year 5 Period 7$9,420$8,779$640$435,367$82,734$154,632
Year 5 Period 8$9,420$8,814$605$444,181$83,339$145,818
Year 5 Period 9$9,420$8,848$571$453,030$83,910$136,969
Year 5 Period 10$9,420$8,883$536$461,914$84,447$128,085
Year 5 Period 11$9,420$8,918$501$470,832$84,949$119,167
Year 5 Period 12$9,420$8,953$466$479,785$85,415$110,214
Year 6 Period 1$9,420$8,988$431$488,774$85,847$101,225
Year 6 Period 2$9,420$9,023$396$497,797$86,243$92,202
Year 6 Period 3$9,420$9,058$361$506,856$86,605$83,143
Year 6 Period 4$9,420$9,094$325$515,950$86,930$74,049
Year 6 Period 5$9,420$9,130$290$525,080$87,220$64,919
Year 6 Period 6$9,420$9,165$254$534,246$87,475$55,753
Year 6 Period 7$9,420$9,201$218$543,448$87,693$46,551
Year 6 Period 8$9,420$9,237$182$552,685$87,875$37,314
Year 6 Period 9$9,420$9,273$146$561,959$88,021$28,040
Year 6 Period 10$9,420$9,310$109$571,270$88,131$18,729
Year 6 Period 11$9,420$9,346$73$580,616$88,205$9,383
Year 6 Period 12$9,420$9,383$36$590,000$88,241$0



















作者: 17carlos    时间: 2018-7-4 17:31:38

好有毅力！
作者: 太阳鸟鸟    时间: 2018-7-4 17:32:48

提示: 作者被禁止或删除 内容自动屏蔽
作者: 17carlos    时间: 2018-7-4 17:32:54

本帖最后由 17carlos 于 2018-7-4 16:34 编辑

现在可以这么做。6年前的话，还是建议你继续投资房产。但都是事后诸葛亮
谁都不知道未来是怎样。

赞一下楼主。
作者: NewLynnHse    时间: 2018-7-4 17:34:15

真厉害，真有能力，我要是能像LZ这样就好了。

我背着这100多万的贷款，也不知道啥时候才能脱离穷困。。。太悲剧了。。。

不过LZ让我看到了希望
作者: trdeyoualbert    时间: 2018-7-4 17:34:46

有钱                    
作者: linjiawei0108    时间: 2018-7-4 17:50:45

一个月能还九千多的还要贷这么多，失败
作者: 鸢芷清    时间: 2018-7-4 17:52:40

                                                      
作者: rubywoo    时间: 2018-7-4 18:00:10

and your point is? 哈哈哈哈
作者: reyyerne    时间: 2018-7-4 18:11:34

linjiawei0108 发表于 2018-7-4 16:50
一个月能还九千多的还要贷这么多，失败

或许他当时买了个好几百万的房呢？
作者: T--    时间: 2018-7-4 18:27:35

真有毅力，能像LZ这样就好了。父母孩子肯定以你为荣
作者: zyan024    时间: 2018-7-5 10:15:24

很想知道楼主夫妇收入如何？一个月居然能还贷9420.
作者: xytdt55    时间: 2018-7-5 10:36:16

首先，你要工资够高，不能不生活啊
作者: joyjoyjoy    时间: 2018-7-5 11:33:19

有个问题
是1年到期如果有多余的钱一次还几万进去划算呢还是
把贷款周期缩短划算?
作者: xnw1890    时间: 2018-7-5 11:34:35

真的是个狠人，不过吃这几年苦，后半辈子不用愁了
作者: John.G    时间: 2018-7-5 11:36:19

如果俺一家人都天天吃泡面 省水省电 没有其他娱乐和消费的话 俺 5年就可以还60万
作者: lsj5031    时间: 2018-7-5 12:42:59

本帖最后由 lsj5031 于 2018-7-5 11:45 编辑

毅力不错。我也曾经一个人上班一个月还四千多加养家……不过感觉还是欠债的感觉好，银行的钱还这么快干啥……

作者: 匿名    时间: 2018-7-5 13:17:09

本帖最后由 匿名 于 2018-7-5 15:07 编辑

I felt the pain for the first few years (when the interest was around $2400 plus a month) but, when I reach the final 2 years, I felt relaxed as the $9000 plus went a lot to principal sum payments.

The debt gave me the discipline to keep going in the last 6 years. My child is now 8 yrs old.

Last month, I paid off my last payment, hence sharing this writing.

Suddenly, I felt like I have so much money and book myself and my family a trip to go and enjoy this month's "unused money" ie the $9000.00 and still have some change in the pocket :)











作者: 直面异议    时间: 2018-7-5 13:17:20

2355+800=3155.算你交20%的税，周收入3943。年收入：20万。

这还没算首付，所以人家挣14万可不觉得穷吗？
作者: tom_shen    时间: 2018-7-5 13:41:35

感觉楼主就是想炫耀一下
作者: kizuna    时间: 2018-7-5 13:47:13

励志！！一个月还贷9000多那也要收入够高 能赚到那么多钱才行
作者: ruima    时间: 2018-7-5 14:01:21

         
作者: bigyin    时间: 2018-7-5 14:16:33

$9,420 per month? if I can afford this........
作者: bigyin    时间: 2018-7-5 14:18:51

After paying tax and ACC, the amount of income from a $165,000.00 annual salary is:

$117,933.32 per annum
$9,827.78 per month
$4,535.90 per fortnight
$2,267.95 per week
Giving an effective tax rate of 28.53%
(i.e. 27.50% + 1.03% ACC)

Kiwisaver deductions:

$4,950.00 per annum
$412.50 per month
$190.38 per fortnight
$95.19 per week
Cash in hand:
$112,983.32 per annum
$9,415.28 per month
$4,345.51 per fortnight
$2,172.76 per week
Total deductions as a percentage of income: 31.53%
(Income Tax + ACC + Kiwisaver)
作者: wfmq2    时间: 2018-7-5 16:01:03

bigyin 发表于 2018-7-5 13:18
After paying tax and ACC, the amount of income from a $165,000.00 annual salary is:

$117,933.32 per ...

1个人的收入数字?
作者: 翁塞    时间: 2018-7-5 16:19:02

tom_shen 发表于 2018-7-5 12:41
感觉楼主就是想炫耀一下

其实，不同的人有不同的活法。这样的炫耀只是在一些人的眼里有价值，而在有些人的眼里可能什么都不是~~~



作者: dannyfoxy    时间: 2018-7-5 16:44:00

有钱人过着穷人的日子
作者: Quad    时间: 2018-7-5 16:51:42

NewLynnHse 发表于 2018-7-4 16:34
真厉害，真有能力，我要是能像LZ这样就好了。

我背着这100多万的贷款，也不知道啥时候才能脱离穷困。。。 ...

那得买 多少房啊？         
作者: Ace-world    时间: 2018-7-5 17:07:04

只要还款安排的好，我觉得还是有点贷款更好。 毕竟利息很低。 如果高利息的话，早点还清才好。
作者: 云晕兔    时间: 2018-7-5 17:26:10

很好，一个月能还9000多的人还需要贷款，这个帖子很有参考性
作者: AUprince    时间: 2018-7-5 18:30:47

NewLynnHse 发表于 2018-7-4 16:34
真厉害，真有能力，我要是能像LZ这样就好了。

我背着这100多万的贷款，也不知道啥时候才能脱离穷困。。。 ...

只要像楼主那样苦修6年，你也可以的
作者: AUprince    时间: 2018-7-5 18:32:34

lsj5031 发表于 2018-7-5 11:42
毅力不错。我也曾经一个人上班一个月还四千多加养家……不过感觉还是欠债的感觉好，银行的钱还这么快干啥… ...

同意哈哈，楼主苦了6年，接下来再苦12年还下一套房子
作者: AUprince    时间: 2018-7-5 18:35:08

首先得有楼主那么高的收入，否则行不通，即使有这么高收入，拿去做别的事情不好。
作者: 翠绿肺鱼    时间: 2018-7-5 21:10:24

日常开支600-800/周，就算600好了，2400/月
还贷 9420/月

11820/月 * 12 = 14.18 万，税后到手的钱，税前至少 20万
『we don't earn a lot』 怎么好意思写的
作者: 匿名    时间: 2018-7-5 22:36:10

本帖最后由 匿名 于 2018-7-5 21:38 编辑
翠绿肺鱼 发表于 2018-7-5 20:10
日常开支600-800/周，就算600好了，2400/月
还贷 9420/月

『we don't earn a lot』 怎么好意思写的

- Government definition of $180K is qualifying for Kiwibuild affordable housing. In terms of salaries, we earned much less than that.
But with Rental incomes (because of our prudent investments), you are about right from your calculation.
作者: lsj5031    时间: 2018-7-5 22:45:47

AUprince 发表于 2018-7-5 17:32
同意哈哈，楼主苦了6年，接下来再苦12年还下一套房子

这个收入是算上投资房的租金收入的，以房养房海哥的套路。所以真正还起来没那么辛苦……
作者: fairyhx    时间: 2018-7-5 23:16:11

joyjoyjoy 发表于 2018-7-5 10:33
有个问题
是1年到期如果有多余的钱一次还几万进去划算呢还是
把贷款周期缩短划算? ...

一次还几万并且把周期缩短。我们一年下来，已经30年变27年了。
作者: homealone    时间: 2018-7-6 00:30:57

我怎么觉得lz不是很明智呢。能月供9千的可以贷款200万。六年前买三栋一般的三房。周租500一间，年入75000。按楼主4.7的利率，200万年息9万四，加上一栋5000元地税保险，实际年成本11万，加上一万做维修都意外开支，成本一年12万。减去7万5的租金收入，共需支出4万5一年，和4000到一个月。假设六年后房产增值50%。楼主60万的贷款月供9千得到现值90万净资产。而贷款200万的月供4000，6年后得到净资产100万。不算复利，现金流加固定资产楼主比另一个亏了46万。

我的计算对吗？
作者: trdeyoualbert    时间: 2018-7-6 08:41:49

homealone 发表于 2018-7-5 23:30
我怎么觉得lz不是很明智呢。能月供9千的可以贷款200万。六年前买三栋一般的三房。周租500一间，年入75000。 ...

哗投资专家
作者: weimin68    时间: 2018-7-6 09:21:09

如果六年前楼主不还贷，而是投资另一个房产呢？
作者: NewLynnHse    时间: 2018-7-6 10:42:25

Quad 发表于 2018-7-5 15:51
那得买 多少房啊？

没几个，主要是在高价的时候在山顶接盘的，现在在等死。。。哈哈



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