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this post was submitted on 25 Sep 2024
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Australian Politics
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So this guy is paying $500/mo for this property over the income it generates and the only reason this works out is negative gearing? I have a hard time believing he's not at least breaking even on rent charged over a mortgage, he's not telling the whole story there, or he grossly overpaid for the property.
I'm wondering where on earth he's getting the "$70,000 loss" figure from. House prices in Sydney are not down from 2017...
Look how much any maintenance/repairs costs now. It may be true.