Very helpful .. thanks Terryw taking time to comment and impart your thoughts. Appreciated very much. Took me 20 years to acquire just 4 properties with little knowledge except looking for future security.  Must admit I made lots of mistakes structuring. Have read Steve's book and will continue to educate myself even though a bit late in the ga…[Read more]

Thank you very much Terryw. The land was $26,500 in 1990. I built the basic house for $80,000+, then did all the usuals; fencing, floor coverings, window treatments, paving, landscaping etc.  When I moved out it was valued at approx $220,000. When I moved back in approx $325,000. Am a single parent, sole owner. You say '.. you have to add back…[Read more]

Hi Terryw .. yes I lived in property I built for years prior to renting it out. During that time I bought 2 other IP's. I then rented out property No.1 and went to live in one of the IP's which was then my PPOR for 5 years. I have moved back to property No1 and have an offer on it and am trying to work out CGT position. Thanks for your comments.

No, not in Vic – MickinVic  – but presume you are.

Not sure how 2nd mortgages work but will research and consider. Thank you Qlds007.

Thank you Terry. Have been hanging on with 3 properties on the market and 2 deals that fell over on finance. Glut of property for sale in my area. If I sell this property I will have no financial troubles and time is now of the essence otherwise I would hold on for market value. We have considered stamp duty and legal fees which seems a better…[Read more]