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  • Profile photo of MarmelMarmel
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    @marmel
    Join Date: 2011
    Post Count: 7
    October 26, 2011 - 2:43 am

    Hi Jamie

    Thank you that does help.

    Marmel

    Profile photo of MarmelMarmel
    Member
    @marmel
    Join Date: 2011
    Post Count: 7
    October 25, 2011 - 9:08 pm

    Hi Jamie

    I can't quite find the exact answer I am looking for so I hope you can help me? We currently have an 100% offset account attached to our PPOR (Interest only)  which is an IP. It is our first investment property and we are planning on purchasing our second IP sometime next year while we keep renting ourselves.
    My question is: Do we put all of our savings into the offset account or just the savings we intend on using for the next purchase? I am wondering if there will be any issues tax wise down the track if we put money in the offset that is not used for the next investment purchase.

    I apologise if this seems like a silly question but I want to get this right from the start. (I have been one of those lurkers that was mentioned in a previous thread who has been quite shy to ask questions :)  )

    Regards
    Marmel

    Profile photo of MarmelMarmel
    Member
    @marmel
    Join Date: 2011
    Post Count: 7
    February 19, 2011 - 11:01 pm

    Hi Everyone

    The house is in immaculate condition as we have had some fantastic friends who have been going in and cleaning it fortnightly since we have left. And I do feel the tennants will feel they are moving into a spottless house that has been professionally cleaned. And the lawns will be mown in the days just leading up to the house being tennated.

    I agree with the posts  above about the perception from the property managers view and the fact that it will be tax deductable.

    My issue is that to be honest I cannot afford to get the house professionally cleaned and if I can get away with that cost from the start it would help us out a lot.

    Thank you for your helpful comments – I still am thinking about whether or not I should just get this done for tax purposes at least.

    Regards
    Marmel

    Profile photo of MarmelMarmel
    Member
    @marmel
    Join Date: 2011
    Post Count: 7
    February 5, 2011 - 10:09 pm

    Hi Wynyard

    You have created a very interesting post.

    With regards to your future employment, you could look at working remote for your city based employer from home.

    If all you will eventually need is a computer and a PC based phone or mobile phone you can relocate to anywhere in Australia and still earn a decent income. And you can save on childcare at the same time.

    I live in a rural town and work remotely. It has saved us so much on childcare and it works well for us.

    Regards
    Marmel

    Profile photo of MarmelMarmel
    Member
    @marmel
    Join Date: 2011
    Post Count: 7
    January 12, 2011 - 7:32 pm

    Hi Everyone – Thank you for your responses., they are much appreciated.

    Yes we were thinking of using the equity for a 2nd IP which would be IO or for purchasing a principal place of residence eventually (as we are currently renting). I was thinking we would then change the first (current) property to Investment after that.

    Regards
    Marmel

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