Hi I have a friend over that wants to start in property i have answered this queation but it is not good enough. could someone please help him ….he wants to know if you 100% own your house can you negative gear a investment property against it
You can buy an investment property secured by the home quite easily – assuming sufficient income and a clean credit record.
He should speak to a lender or a broker and get an idea of where he stands exactly and how much he can borrow.
All the best to him and yourself,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
DO NOT rent out the home that is 100% owned and try to claim the loan on the next property. The loan must be directly related to the rented out property.
If you are renting out the first property that is fully owned then you are earning income that the second property’s net rental loss can be negatively geared against. Also wage income can be reduced from a net rental loss.
However a Capital gain cannot be reduced by net rental loss only by capital losses in the same asset class.
Your friends question is a bit vague. I hope one of these scenarios is what the question was referring to.
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