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  • Profile photo of jsumjsum
    Member
    @jsum
    Join Date: 2007
    Post Count: 3
    March 2, 2007 - 8:51 am

    thanks Mark [specool]

    Originally posted by Qlds007:

    I agree with Marc to sell all of the properties and then rebuild your portfoli could be financial suiside given the CGT and stamp duty costs.

    If you want to upgrade and assuming the loans are not all cross collalteralised (Cringe at the thought they maybe) why not consider a shared equity style loan.

    You could upgrade the PPOR to a more expensive house but not actually have to pay interest or make repayments on 20% of the loan. Your cash flow could be the same as it is at the moment yet you still enjoy a better house.

    Cheers

    Richard Taylor
    Residential & Commercial Finance Broker.
    Licensed Financial Planner. Ph: 07 3720 1888
    [email protected]
    New Shared Equity scheme has arrived – Email us for details.

    Profile photo of jsumjsum
    Member
    @jsum
    Join Date: 2007
    Post Count: 3
    March 2, 2007 - 8:48 am

    thanks, it is a need with two teenage boys etc etc..we’ll do some number crunching,

    Originally posted by L.A Aussie:

    The problem with selling all the I.P’s to buy a better/bigger PPoR, and then using the equity in the new PPoR to buy new I.P’s is that you will pay an absolute fortune in C.G.T, buying and selling costs.

    Do you NEED an upgrade or do you just WANT an upgrade?

    If it’s just a WANT, then I think it is financially unintelligent to go down the path you are contemplating.

    If it a NEED, then try to sell as few of the I.P’s as you can to help finance the PPoR upgrade.

    Cheers,
    Marc.
    [email protected]

    “we get sent lemons; it’s up to us to make lemonade”

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