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With more optimistic assumptions, we can produce a different picture. Being slightly more realistic on the interest costs- as we don't have to pay the full amount up front, we don't have to borrow the full $US65,150 up front--we can assume net monthly outflow will be the same as month 19 onwards ($HK4,970.63) in the last table. This would reduce total interest by $HK48,262.50.
To be completely optimistic, we could assume an annual rent of 10% on the appreciating capital value. half of that assumption (rising rents over time) is probably more To be sure, the second realistic.
Using a 10% rental return on the annual appreciating capital value, we'd receive total rental income of $US48,020 ($HK374,556) over the seven years, an increase in income of $HK197,593.50. Using these revised figures, we can construct a more optimistic assessment of possible costs and returns:
COSTS: Initial borrowing
Total interest
TOTAL COSTS:
LESS:
Rental income Sale of property
$HK374,556.00 794,203.80
$HK510,125.00 594,495.00 $HK1,104,620.00
TOTAL
1,168,759.00
NET PROFIT:
$HK 64,139.00
That
In summary, if you can afford $HK5,000 ($US640) per month, you can afford a second passport for your entire family. you might have to borrow the purchase price will not appear on your financial data until after you've received your permit of residency (see below). That you might have to spend most of your $US1,500 a month income on paying the interest to borrow the money to buy the property (on deferred payment) which is the principal qualification for Portuguese residence will not, as Portugal currently structures its requirements, disqualify you.
If you, personally, cannot afford $5,000 per month, why not pool your family income? One family I know consists of two parents, four unmarried daughters (three working, one student) plus one married son (over 18). Father has two small businesses and owns his home outright. This property could be mortgaged for at least $HK500,000. How to meet the monthly payments? family income I estimate to be over $HK20,000 a month.
Total True, not
a large sum, but an amount that could probably be increased by $5,000 per month through extra work. In other words, a family,
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