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  • Profile photo of Free@lastFree@last
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    @free-last
    Join Date: 2005
    Post Count: 13
    March 29, 2019 - 1:38 pm

    Hi Terry,

    Thank you very much for your reply. That is a great thread and excellent information for my consideration. I was effectively doing Strategy 2 when I sold my property to my wife.

    Now I have a slightly different situation whereby the current PPOR owned by us both. A question on strategy 3, how ATO or banks determine how much shares my wife and I each have? If I am selling my share to my wife, obviously we want to maximise the loan that she can get to pay for the new PPOR. So what stopping me of saying that I am selling 80% of my share to her and thus get a bigger loan?

    Or is Strategy 3 is now no longer allowed by ATO?

    Cheers,
    Jan

    Profile photo of Free@lastFree@last
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    @free-last
    Join Date: 2005
    Post Count: 13
    March 29, 2011 - 4:42 am

    Thanks for the reply Terry and Angel, they are valuable inputs.

    Angel, I see where you coming from but would it be better if I minimise the borrowings of the new ppor since it is not tax deductible? If I do your way, I will end up having a mortgage on the new ppor of 470k (670k purchase – 200k from offset) and thus higher non deductible interest.

    Of course I see your point of not collateralising the ppor, but is x-collateralise with ppor a bad thing?

    Cheers,
    Free@last

    Profile photo of Free@lastFree@last
    Participant
    @free-last
    Join Date: 2005
    Post Count: 13
    January 11, 2008 - 1:13 am

    Thanks everyone for the info. I will check them out.

    Best Regards,
    Bee

    Profile photo of Free@lastFree@last
    Participant
    @free-last
    Join Date: 2005
    Post Count: 13
    January 9, 2008 - 5:55 am

    Hi Kris,

    I am thinking the same area to invest, Footscray. It is a very good location and with the development proposed for docklands, i reckon the value will go up quite fast. Docklands apartments has been snapped up quite fast now so the surrounding suburb will feel the ripple effects.

    So I am with you in term of investing in footscray.

    If i can ask you, are you using your equity from your first home? Do you know how to do that?

    Cheers,
    Free@last!

    Profile photo of Free@lastFree@last
    Participant
    @free-last
    Join Date: 2005
    Post Count: 13
    March 13, 2005 - 6:38 am

    Hi Guy,

    Thanks for the reply. At the moment, I’m just looking at the bigger picture and if you the strategy is viable. I’m aware that I have to put agents and other fees that need to be incorporated.

    I’m not aware there is such thing as rent appraisal, thanks for pointing this out. Can researching rental price in the area by looking in the real estate.com.au and comparing similar property will do the job? I would say around $230/wk.

    Free

Viewing 5 posts - 1 through 5 (of 5 total)