That is a fact Bennido and that is exactly what we did. I did check with my accountant to confirm. If you borrow against your PPOR to build or buy another PPOR and rent the first PPOR, then the interest on the equity used from first PPOR is not tax deductible as it is the purpose of the loan that determines the deductibility.
Hope I am clear in…[Read more]

Hi Karl and Rita
Is it a possibility for you to live in a rented house and rent out your PPOR so that it can be +CF and interest is tax deductible, the rent you pay can also be claimed if you have a home office to maintain your IP’s.
We just did that and converted our PPOR and another IP into uni student accommodation resulting in a source of…[Read more]

Hi
We have just finished converting 2 of our residences (1 was a PPOR) into student accommodation. I was going to write a detailed post after I caught up with my breathing, but here I am.
The two residences are as follows:
1 was a 3BR, separate L shaped lounge, separate kitchen. We converted the L shape into another bedroom, made lounge and…[Read more]

I join with the other two expressed opinions about you Jo(Monopoly). I admire your success and indeed you are an inspiration. I like your tongue in cheek comments most of the time…well most of the time anyway….
Pl.continue to pass on the inspiration.
I must say I have couple more people that I admire – Derek in particular, his comments and…[Read more]

Hi Collie
What about Real estate agents selling fees? For $240000 selling price you would be looking at around 7 to 8K atleast if I am not mistaken. Unless you want to sell it privately without an agent, then advertising costs needs to be added.
Padma

Hi
It was refused because I believe the residents around that area protested as it was not a suitable development in line with the surrounding houses. The proposal was to build multistory apartment type housing, don’t exactly know how many? but runs almost into over a hundred I believe. I agree with the decision, because that area is more of…[Read more]

Hi Agentsmith & Nordicskier
Yes, we had the first meeting at my place and it went very well. There was 5 people plus us that makes 7 – Linden and Lisa, Collie & Nathan, Annette, & David(couldn’t make it), myself(Padma) and my husband Mohun. We sort of introduced ourselves in terms of where we are at the moment and had a general session – so it was…[Read more]

Hi DNA & Collie
Children are part of life. Can’t do without them.Bring them along. I don’t mind.
See you all at 4
Padma

4pm Collie, see you there?
Padma

Hi
The very first post that I made asking for a suggestion, I was called STUPID for even thinking what I was planning to do. That put me off for a minute, but I brushed it off and went on. As I read on with interest everyday, there are certain posts that make me flinch hard and think OUCH! THAT WOULD HURT!.
I don’t understand why people have to be…[Read more]

Hi Everybody
Congratulations to one and all. I would like to add that last June, we have celebrated 25years of marriage (I am not old, just got married early). We are at a stage now, that we don’t have to open our mouths before we both know exactly what the other is thinking. It is wonderful and life is beautiful. Marriage is give and take, more…[Read more]

Hi
Fear is the biggest motivator as well as a hurdle. Motivator only if you know how to go past the fear. So, may be you can use the same fear to motivate to do something about it – like a not so pretty picture of life after retirement that cannot sustain consumerism.
Then a picture of life when you used delayed gratification – early retirement,…[Read more]

Hi Jaffa
I don’t know about leading a group but certainly would be interested to meet this Property Manager. I also had a message from another couple from Wodonga interested to be part of the group, so looks like 5 to 6 people. But I am not sure what we do in the group? Any guidance there if you have experience or let the group decide once got…[Read more]

Hi Jaffasoft, Collie, Agentsmith & John Howard
I am from Albury. Been in Albury since 1988 (we migrated straight to Albury) and love the place. We have 2 IP’s, recently moved out of our PPOR and converted it into an IP as well, so that makes it 3. Doing the 2 IP’s up forUni student accommodation and have got very encourging results so far, 7 out…[Read more]

Hi all
I am from Albury (Albury-Wodonga twin cities),in between Sydney and Melbourne and Canberra. great place. Not many +CF properties currently as the market boomed last two years.I would like to know anybody else from Albury or Wodonga and meet up with them.
Padma

Aren’t there sites already doing it? EG: Househunters – I have subscribed to their newsletter and I get weekly CF+ property listings with all the details except location. If you are interested then you contact them and they will tell you the details along with the costs involved in procuring the property. The list is quite big.
Another website is…[Read more]

[biggrin]Thank you very much for everybody’s comments on this. Just shows how supportive this forum is and how knowledgable. I am glad I am in your company.
Jo,
I didnot take offence at your comments. Truth is harsh always. Having said that, I have a bit of thinking to do about that property. I have not made that decision lightly. It was based on…[Read more]