re: If I move into the new property, will my old PPoR remain CGT exempt for up to 6 years?

No.  Once you move into another property that you own, your original property is immediately no longer eligible for the exemption.  The only circumstance under which you can sort of have two PPORs on the go at once is if you are in the process of selling one.

Think about what the TOTAL INVESTMENT PROPERTY DEBT is that you currently have between IPs 1, 2 and 3.

Then think about what the total investment property debt would be after this shuffling of money you are talking about.

The two totals will be the same.  Who cares which property the debt is against.  All that matters is what the total portfolio situation looks like on a balance sheet and a tax return.

The only thing I can think that would be of benefit is if you refinance to a different bank that is offering a lower interest rate. But even then, you do not necessarily need to be transferring debt from one IP to another. 

Just think total position.  No need to think about individual properties any more.  Think about how the whole portfolio works together.  All well and good for me to say I guess.  I'm a numbers person hehehe.  I spend embarrassing amounts of time doing "What If" analysis in my aggregate portfolio spreadsheets, understanding how the entire portfolio looks "if I just tweaked one property…."

I always go with AAMI for properties they are happy to insure.  Have had to make a substantial claim in the past and it was smooth sailing.  Could have been quite debilitating if they tried to wriggle out of paying for anything.

Remember to insure the building and also to get landlord insurance with the tenant protection added extra to cover the likes of rental default and malicious damage.

I agree Joe.  Everyone rushes into Norlane because it is cheap, not realising that the costs of subdividing and so on will erode profits and cause a loss.

Agreed with RPI.  Particulary since a SMSF cannot leverage equity from one property to fund the deposit of another.  Only way to realise a gain is to sell the property.  If a SMSF is going to strata it would absolutely be for the purpose of on-selling.  I did neglect to say so in my original post – thanks for picking up on that RPI, it is an important point

Thought so.

Speaking generally, street appeal is very important, as is cleanliness, light and brightness, and land size. Tidiness of garden is something that can happen without much expenditure at all.  Updated kitchen and bathrooms of course add value.  Wire fences are a giveaway of what kind of property hides behind the mask of a renovation, but fibro is also a giveway, as are the houses next door which the owners may or may not ever bother to polish up with a reno.

You will need to run your numbers very very carefully if you are intent on renovating a fibro in Norlane.  Wherever you are looking, you need to be very certain that the price differentials between renovated and unrenovated properties are sufficient to bother.  And don't forget the stamp duty you have to pay to get into the deal.  So realistically, let's say you buy a $200k house, you fork out say $7k in stamp duty and $10k in a reno, you've already spent $217k.  If renovated properties only fetch $220k, it is really not worth the bother. 

I'd encourage you to look around a few suburbs and run your numbers very carefully. 

May I ask where in Geelong this property is located?  (ie which suburb?) Not all suburbs are equal.  What will achieve results in one suburb will be pointless in another.  Based on what you've mentioned about the fence I've got a fair idea, but easier just to ask.

Hi Simon

Just wondering why you've set your mind on the Gold Coast?  Surely the sentence you are saying should be "I want to buy an investment property that has great growth prospects and great yield and is in great demand, and I wish to do so as step 1 in assembling a portfolio that will support me in my retirement"….

In other words, does it really have to be the Gold Coast or have you also considered other parts of Australia that might be less susceptible to the tourism market?

It's all in how you word the question.  If you ask what the rates are for that property, you will be met with all the usual nonsense about privacy policy and so on.  Ask what the rates would be on a property identical to that property…. you might just get your answer

@ Rick Sta…. do you have a SMSF ?