Previous Plan:
Wait until Eden was renovated and sold before buying investment property
New Plan:
Move forward with buying an investment property before Eden2
Creation Strategy:
This is going to be a deliberate creation from Quantum consciousness.
Intention and emotional alignment.
- What's possible?
- What do I feel about it?
- What's my intention?
- Is there alignment between intention and emotion?
- If yes, allow action steps and opportunities to reveal themselves
- If no,
Funding Goal for Investment Property - $25,000
Funding Sources
$8500 TDAmeritrade
$6500 HPE Stock vesting
$5000 New Zealand Flexiloan
$20000
Funding to Find
$5000
Possible Sources
Bank of America Card - short term loan - special interest rate checks
Flexiloan - go into overdraft on Flexiloan account.
Reduce payments on Flexiloan main loan to minimum. Is there a minimum? Currently $500 per month principle and interest.
Action to Take: Monthly income and expenses analysis to see more accurately what my non negotiable monthly expenses and income is.
Action Required: Create a proper loan repayment plan for the outstanding revolving credit amount.
Action Required: Borrow $5000 from Bank of America Visa Card using short term loan checks.
Action Required: Open a Bank of America Checking account. Keep this just for investment property transactions.
Action Required: Pay back using Bank America Visa from Eden2 rental income at rate of $600 NZD each month. International transfer once a month.
Alternative repayment: Reduce DXC MAP contribution to the minimum to still achieve 100% matching funds
An investment property will reduce my taxes because of expenses, mortgage interest and depreciation. This should offset the reduction in taxable saving. My balance would grow slower
How much would this contribute each month? (Approx $300)
Use that difference to pay off short term credit card loans.
Can I afford additional monthly payments?
Not without increase in paycheck income from some other source.
When Eden 2 is sold, max out MAP, 512 for kids, IRA etc.
Reduce amount of Federal and State income tax paid based on losses from Sylvia's business in the last two years.
Risks:
My TDAmeritrade account is essentially my emergency account. Reducing this to $0 would significantly increase risk if I lost my job
Losing DXC Technology Job:
Risk assessment - high
Plan for moving money to USA from New Zealand once Eden2 is sold
USD $9000 each time to avoid potential large transfer tax triggers. Makes it possible to buy a new investment property every three months. Probably a good schedule to allow research, paperwork, etc.
Buy one new property every quarter
