Thanks Amanda for your reply.

I see lots have read the post, but no one has replied til you.

Lisa

No I don’t have a line of credit. The negative thing about the way our loans are set up is that they are all guantees for each other. But this helps us to have a tiny loan on our PPOR (which you can’t claim) and 100% loans of the IP (therefore we can claim more interest). Doing only one house at a time has made this way work for us, and selling…[Read more]

My husband and I are renovators, we have done 5 so far. And what you do to a place will depend if you plan to keep the house or sell it soon after the reno.

I have used the bamboo type stuff to a fence at my PPOR and it’s now a year later and it doesn’t look so good. Faids with time. Looked great to start with though.

Another idea for the…[Read more]

Hi,

Talk to a finance broker and get them to research all the banks for you and find one that has no exit fees. Even banks with slightly higher interest rates would work out better if you aviod an exit fee.

Currently we doing the same thing as you (renovating and selling within a year). We are upto house 5. I havent once paid an exit fee. We…[Read more]

Hi Dave,

I’m not a ‘professional’ on the topic, but I have learnt this from personal experience. I am upto house number 5.

Claiming depreciation on the building to get back some money on your tax return is fine if you need the money to make the deal positive geared. But you do realise that claiming the depreciation now is more of a tax deferral,…[Read more]