get a line of credit and buy something in queensland.do your homework and i am sure you will find something.you are young  put your head down and by the time you are 35 you could/should be able to retire.borrow the lot stamp duty evrything and leave your own money in a line of credit.go to the ato website and look up private binding ruling 69725 it should help you.

glenn

what you see as a problem i see as an opportunity.in your case to secure a financial future of miilions.on 240k pa you are both paying heaps of taxand getting no thanks for it .true?

i cant see why you cant get a line of credit or at worst x coll go lo od cif the banks give you a hard time or find a good broker and make your equity work for you because all you are doing now is working for yor equity.

set your self a goal where you want to be in 5 10 20 years whateverand stick to it.
i earn a heap less than you and believe that capital growth is where the money is cf plus is great but you need consistent growth .i tip in my tax break plus about 120 p w post tax dollars a week to keep my portfolio going.what i tip in is about.0.68% pa of the total value of my portfoliowhich i see as a sound investment.if i was in your predicament i would be sipping pina coladas in north queensland in 5 years not working another 8 years as i plan to.

good luck try and be positive.rome wasnt built in a day

glenn

never never never sell

Richard

i am interested to know how you work out 25K of CGT may and i mean may be payable

regards

glenn

never never never sell

hi sonja
as my long on suggests what you hve simply done is access some of your capital growth.the amount you have borrowed is not tax deductible but no cgt is payable..this is the beauty of an investment property you can borrow against the capital growth and not pay tax (let your kids do that )lol.whats the point of having all this built up equity if you cant enjoy it.so i say go for it hang on to your property and re finance downthe track and enjoy the fruits of your labour. good luck

never never never sell

I ATTENDED A DAY OF THEIR ANNUAL CONFERENCE ON THE GOLD COAST 2 YEARS AGO JUST HAPPENED TO BE ON HOLIDAY AT THE TIME AND PAID MY MONEY AND WENT ALONG FOR THE DAY.IT ALL SOUNDS GREAT GET 106 PERCENT FINANCE BUY A NEW PROPERTY EVERY YEAR PROPERTIES GROW BY ABOUT 10PERCENT ANNUAL SO DOUBLE EVERY 7 YEARS THEN JUST DRAW DOWN EQUITY AND LIVE OFF THAT.
AS WELL AS YOUR RENT KEEPING PACE WITH CAPITAL GROWTH SO YOU NEVER PAY A CENT EXCEPT YOUR TAX SAVING.
I CANT SEE THE RENT KEEPING PACE OR EVERYONE GETTING UNLIMITED FINANCE.BUT WITH LO DOCS NOW AND EQUITY BUILT UP IT MAY BE POSSIBLE.
LIKE ANYTHING ELSE YOU HAVE TO DO YOUR OWN DUE DILLIGENCE.THEY DIDNT TALK ABOUT LMI AND THE FACT THAT JUST BECAUSE YOU QUALIFY FOR A LOAN OR LOANS LMI MAY BE A PROBLEM.
I DID SEE RECENTLY ONE PROPERTY ADVERTISED FOR 415k WHICH WAS ON REALESTATE.COM FOR 440k YOU WORK IT OUT FOR YOUR SELF.
JUST MY 2 CENTS WORTH
GLENN

never never never sell

hi stu
read your articles very informative.
an aticle on ‘due diligence’may help a lot of people especially what steps people can take or what information they should gather to present to a valuer inorder to obtain the highest valuation possible rather than relying on a bank valuation.

never never never sell

How many times do you hear people say “gee if i had known that i would never have sold”.Like a lot of others are saying i see your equity as deposits for numerous other properties.I always say nevern never never sell.Refinance and have a holiday or whatever you want to do but never sell.

Gee i wish i had your problem good luck

regards glenn

never never never sell