Hi All,
I have 4 investment properties in north qld and a home in brisbane. I have $400K in equity in them all, but I don't know wether to sell and pay cgt on the investment properties or buy some more properties or…..????????
Any advice would be great.
We both work a normal 38hr job, but are running out of week at the end of our pays.
What if we sell our investments and pay off our main mortgage.
Unless your properties are heavily neg geared and are costing you money from your pocket each week, then I'd say it sounds like your problem is your personal spending habits.
Having "too much week at the end of the pay" is usually a problem for those with the above problem. You have done well to get 4 I.P's if that's the case.
I don't like to see people sell properties to then turn around and buy more. It ends up costing lots in buy and sell costs. It may be worthwhile to sell one of the properties to free up some equity and pay down some of the PPoR debt.
Have you maximised the cashflows you can get from each property:-
1. Depreciation Schedules,
2. Interest Only loan
3. Have your tax return paid into your pay each week (Section 2021D I think from memory – someone tell me if this is wrong).
You must be logged in to reply to this topic. If you don't have an account, you can register here.
