Elders Launceston is one definitely to steer clear of we had endless problems with them. Peter Lees who we are currently with are very professional and would reccommend them for property management.

Ravenswood is split by the main road which you use coming from Launceston CBD and leads to the IGA and splits in two. If coming from Launceston CBD…[Read more]

As with a lot of areas at the moment the Launceston market is flat and if there is a good time to buy there it would be now. We bought a property in Ravenswood(the good side) 18 months ago it has experienced minimal growth in that time but we are in for the long haul. Rent is reasonable giving us a yield of just over 6% currently. If you do decide…[Read more]

Want2invest wrote:
Hi Terryw,Thank you for your reply.I would ideally like to pay off my PPOR. I am trying to investigate if its possible to re finance and pay off my loan on our PPOR and transfer the loan over to the IP? This would obviously help with tax reasons and would be debt free with our PPOR. I would rather not sell the IP we have as…[Read more]

god_of_money wrote:
Looks OKbut why not advertise with domain.com.auor realestate.com.au

Looks like it is on both:

http://www.realestate.com.au/property-house-vic-st+albans-404831736
http://www.domain.com.au/Property/For-Rent/House/VIC/St-Albans/?adid=6773976

SQM suggests vacancy rates in St Albans are around 1.6%

http://www.sqmresearch.com.au/graph_vacancy.php?mode=p&postcode=3021&t=1

This website does both of those:

http://www.refindhouseprices.com/

Yes there are problems if the loan defaults both properties are in the mix also if you want to sell the original property you might have difficulty refinancing the 2nd property to stand alone or be up for LMI if the equity of the first property was used as a deposit.

JacM wrote:
I think you'll find that to avoid the CGT, you will have to be living in the house when you sell it.  The 6 year rule merely means you have 6 years to move back in to do this tax dodge.  However if you've moved to another house and declared it your PPOR, and turned the first house into an IP, then you will not be selling CGT f…[Read more]

House Call wrote:
Now that bit I do not understand.  I thought rent going into the LOC was a good thing because my interest bill goes down as balance falls (effectively "parking" money there).  Can you explain an offset account, then?  I thought it is a positive bank balance account where the interest earned goes against your loan interest, bu…[Read more]

House Call wrote:
good thing there is not all that much "spare money"! lol  (lots of kids and cars and o/s holidays takes care of that)

Think Terry was refering to the rent should be going into your offset and not into the LOC

Thanks for the replies, clears up what I was thinking

If your gain after the 50% discount is $50K then you would be taxed the amount a person earning $50K would, which would be about $8550 – 15c in the dollar from $6K to $37K then 30c up to your $50K

Yep you would still have to pay CGT but it would be the best time to sell as your gain would be taxed at the lowest rate

No Stamp duty when transferred between spouses in Victoria

Capital growth is slower in regional Vic but you can buy a near new/or new 3-4 Bedroom house for around $300-350K which will give you high depreciation. Also there are a fair few properties where the rental yield is pretty good and the vacancy rates are below 2%, we are currently looking in Bendigo, Ballarat, Wodonga and Geelong probably just…[Read more]

Not sure about NSW but certainly with Vic investors pay more Stamp duty because of the PPOR concession

To avoid Lenders Mortgage Insurance(LMI) a state which the Lender is happier releasing equity you need to be at or below 80% Loan to Value Ratio(LVR). Currently if your property is estimated to be worth $320K and you owe $240K then your LVR is 75% meaning you could comfortably use around $16K of your equity without going over the 80% and incurring…[Read more]

Was discussing this with my lender yesterday, they don't have the concept of a Line Of Credit, for investors like myself what they do is create a standard IO loan draw down the funds and dump it in the redraw for you to use as you need, would this situation be different because the funds are put in the redraw instead of an offset?

best to get a depreciation report done by a depreciator they will go trough the whole property and determine what is depreciable and for what length of time and put together a report of depreciable assets for the coming 7 or so years

Hi JoshDefinitely no need for an agent if there is already a buyer. I sold my own property a couple of years back and the hardest part was getting people to your property and negotiating. So the first of these is done you just need to do the second. I'd suggest you offer asking price minus half of agents fees so that the buyer and the seller…[Read more]