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  • Profile photo of NikkiKNikkiK
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    @nikkik
    Join Date: 2007
    Post Count: 3
    January 7, 2011 - 11:11 am

    Thank you Terryw for your advice re the CGT.  It is certainly giving me something to think about.  Perhaps renting out the PPOR and renting and perhaps pulling out further equity and using that for the next property. 

    Thank you also Scott No Mates (love the name!), I will get some quotes for the roof as it needs to be corrected either way.  The unfortunate thing with the bathroom is that it doesn't even have proper tiles, it is that spray on stuff with the lines.  It is starting to leak, so something needs to be done either way.  Will also have a closer look at the windows and see if they can be cleaned up re the paint.

    N

    Profile photo of NikkiKNikkiK
    Participant
    @nikkik
    Join Date: 2007
    Post Count: 3
    January 6, 2011 - 8:50 pm

    Hi Jamie

    Thank you for responding.  There would be around $400K in the property.  I had thought of renting the property out and renting myself, however it is a high maintenance, very slopy block, the house needs around $100K spent to bring it up to scratch – put a pergola out the back, new slab under the pergola, new bathroom and toilet, new balcony at the front, fix the roof etc etc.  I just thought it would be seriously overcapitalising so the better option would be to sell it, and start again with the cash. 

    It is a great spot, backs onto bush with a fabulous pool, but the house – aaghhhh!!  It is a big money pit.

    Thanks again,

    Nikki

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