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I would love to own our PPOR. It would make it so much easier when negotiating investment property loans with “The Bank” to be free of non-deductable debt. I believe that you are doing the right thing in selling your investment property & paying off your PPOR loan. When you return it will give you a good springboard to get back into the investment property market. Kind regards, Bob.
Hi Mike,
Although I reside & invest in Queensland, the Victorian Market is no different to anywhere else. I always look for a solid property that I can add value to (eg. paint, landscaping, reroof, etc.) that will allow capital growth in the near future. The rental is important, but sometimes a little pain on the income front will be compensated for by the asset growth. Remember, the most CGT that you pay after 12 months ownership on selling an investment property is approximately 25%.
My last three purchases have been in a small country town on the main highway, where there are a limited number of available houses, a demand for accommodation (lifestyle moves), it is expensive to build new houses, & there is a willing agent with a good property manager. Believe me, buy right & the rents will increase as your assets grow in value. Hope this helps. Kind regards, Bob.
