Awesome, a rail line to the airport.  Farewell, Tullamarine!

Now, if only Virgin flew out of Avalon all my travel dreams would be realised.

Any idea which 'burbs the rail line will service?

O.K. So just get the mail sent there… and invest in a big mail box

Cheers

Just to touch on this topic of 'as soon as practicable' again…

Can someone shed light on how this rule might be applied in the following scenario:

A buyer is looking to move to a different area and finds the ideal PPOR property, though not yet ready to move
The property is purchased now, settles in 1 month
The buyer does not move in until 3…[Read more]

Thanks SMSF101,

It already runs as a business, albeit with very, very basic accommodations.  An upgrade to accommodation would draw a different clientele.  Not sure it would ever be classed a business zone, but zoning is something I would have to check. 

Yes, I agree, it will be hard to find a lender.

Thanks for the reply DWolfe,

Agreed — not a hard nosed investment plan — looking more at a lifestyle choice with side income. 

Boat access only. 

Cheers

LOL.  Thanks goes out to the Nicky Lane wannabe.  

I would still be interested to hear if anyone has managed to get a loan over the line for a similar property…

Cheers

— A New Sucker

Ah, the voices of reason.  Thanks so much for the comments!

Yes, a powerpoint is what the tenant was referring to.  It's an old (early 1900's) house, but I haven't spoken with the Sparky as to why it costs so much.  The tenant previous to this one did have a powerboard and extension lead, but it stretched right across the hallway.  Tripping…[Read more]

Quote:
Obviously the trick is if you can get it property managed remotely…

Hi sundirtwater,

That is certainly a big part of it.  Good property managers that are willing to do the job may be few and far between however.  I've included an extract from a Kansas City property manager below about just that.  It's interesting to read their…[Read more]

Oh, just briefly… no, the twelve month question wasn't specifically referring to FHOG; just a query as to whether there was a minimum time limit requirement (for CGT purposes) before turning a PPOR into an income producing property.

But thanks for your response — much appreciated.

Thanks so much for the reply Tom,

'You can't claim full PPOR exemption if you use the property to produce income'

…So remaining in the property while renting a portion out changes your exemption?  I understand you can rent out a PPOR for up to 6 years, claim deductions for those 6 years and still claim the full PPOR CGT exemption on resale (as…[Read more]

Hi waydo77,

I've done a Trans-Tasman reno and although it eventually got over the line, not being on site to do the small stuff and to project manage meant the whole thing did take longer than it should have.  It was also my first reno.  Now that I have some trusted contacts and some lessons under my belt,  the second one will probably seem easy…[Read more]

Hi sundirtwater,

I have spent some time in the States, and also Ballarat, Tassie and NZ (the latter being where I own some properties).   There is no comparision.  I have never come across any areas in the latter three that in any way compared with the crime and issues you can find with in somewhere like, for example, Detroit.

If you can rent…[Read more]

Hi all,

Firstly; fantastic website… an absolute wealth of knowledge, ladies and gents.

I will be looking at an IP loan in the future and have been reading up on the IO/Offset strategy. 

My question is how long are interest only loans good for? 

My bank/co-op states:

^Interest-only option applies for owner-occupier and investment purposes…[Read more]