N
niceone
Guest
It's amazing how things have changed in 18 months !!! Back then the rent was making me a nice annual profit. But now the tide has turned. I have 3 rental properties on interest only mortgages as follows:
Property / Rate /Profit (monthly)
A 0.0503 -€77
B 0.0485 €219
C 0.0469 -€4
So, I am €138 in the black every month. BUT when we see the next .5%interest hike I will be in the red. Now I have to consider my options ! Should I subsidise these properties with a view to making 5% to 10% gain in value. Should I approach a bank with a view to consolidating the 3 separate loans into a single loan (commanding a lower interest rate) or should I now consider off-loading the properties.
Any advice ?
Property / Rate /Profit (monthly)
A 0.0503 -€77
B 0.0485 €219
C 0.0469 -€4
So, I am €138 in the black every month. BUT when we see the next .5%interest hike I will be in the red. Now I have to consider my options ! Should I subsidise these properties with a view to making 5% to 10% gain in value. Should I approach a bank with a view to consolidating the 3 separate loans into a single loan (commanding a lower interest rate) or should I now consider off-loading the properties.
Any advice ?
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