Hi Richard,
Can you please provide me with the details of Steve Hodgkinson? I am really fed up with my current accountant. He seems to be overloaded and takes forever to do my income tax return and not only that, last year, he made a mistake and I ended up having to pay an extra $1,800++ plus the $6K from other taxable income (rental plus…[Read more]

$450K – Altona
Otherwise, I'm banking on Hastings for something half the price!

Ok thanks for the advice. Will strike it off the list then. Might just concentrate on regional areas like Mildura, Ballarat and Bendigo.

What's your budget? I'm currently monitoring Altona, Altona Meadows and Cranbourne.

Yes, agreed. The last time I went there was probably 15 years ago. My partner is from Germany and has never been, so, thought we would take advantage of the cheap jetstar mid week deal

Ok, thanks guys.

Thanks for your advice, Richard.

What about those suburbs not immediately at Gold Coast, such as Upper Coomera, Coomera, etc., where apparently there's an infrastructure development plan? Read something about it end of last year, but couldn't find the article anymore >.<

Thanks Jacqui & Richard.

I already took the line of credit & used 15% of the available funds. Is it too late now? I didn't have a financial planner. All the financial planners I spoke to told me that I have to consult a broker as mortgage etc is not their specialty. Probably too late in the evening now to call Richard.

Hi Jacqui,

Thanks for your response.

In all honesty, I didn't get into IP until I was smacked with a fat tax bill last financial year due to my IP being fully owned in SA. (I was working in the Middle East for 5.5 yrs prior to that). Then, I started looking at how to offset my tax and it appears that the only way to do this is to use my fully…[Read more]

Hi All,

Thanks for your advice. I'm just going to be there for holidays, so, thought I can inspect some properties. No particular strategy, really. Looks like I might as well enjoy my holiday and not bother about inspecting any properties!

Another issue (never ending!). So, I took the line of credit (LOC) using my fully paid PPOR as the equity. As I was waiting for the line of credit to settle, I needed to pay the 10% deposit on the IP which I was going to use the LOC for. My broker told me that I can just pay it from my own cash and then reimburse myself once the LOC was settled.…[Read more]

Another question – is remortgaging the same as having a line of credit using my fully owned home as an equity? 

Thanks for the response, Terry. That's what I thought. So, really, no way to reverse the non PPOR which is fully owned with my PPOR which has a mortgage! My finance is so screwed up. LOL.

Thanks Dan.

I've asked this question to my broker before and she said there's no such thing but today, my boss suggested the same thing again:

– Is it possible to remortgage my fully owned property in SA and use that money to pay for my property in Melbourne that I am currently living in? …which means my IP in SA would be on mortgage and I…[Read more]

Thanks Dan. I've since done that as I didn't get much response to my post earlier on!

Now, where to invest – regional Victoria with good rental yield and risky in terms of CG or suburbs around Melbourne which is less risky in terms of CG but would have less rental yield? I bought one IP at Hastings, Victoria using my SA property line of credit…[Read more]

Don't think there's really any CG. I bought the unit when I was working overseas thinking that when I return to Australia, I would want to live in it; hence, I paid it off, but ended up with a job in Melbourne. I would still like to live in this townhouse when I retire, perhaps.

If I sell the SA property, I might as well use it to pay off the…[Read more]

$1,564.29/month

Qlds007 – I guess as my primary concern is to offset tax, the advice I was given was not to focus on the rental income but the capital growth potential. I was going to focus on regional Victoria at areas I think may have capital gains but still provide good rental income. However, I guess the general view is that regional Victoria would have less…[Read more]

Thanks all for your comments. 

I have decided to take up an interest only loan which in effect makes my investment property a positively geared property. That doesn't help with my tax situation of course. I was naive thinking that I would pay the same amount monthly but the whole payment goes to the interest instead of partially to the principal…[Read more]

Thanks for your response JacM.

% wise, do you think the ex-commission homes will make the same capital gains as privately owned homes?