Thanks Mortgage Hunter,

Thanks for your opinion. I have also thought it would be good to put profits from sale of IP into an offset account linked to the PPOR, instead of straight into the loan. Would this also allow us to access/use the profits without paying a redraw fee?

Does having an offset account linked to your PPOR change the interest…[Read more]

thankyou for your speedy reply! [biggrin]

in your humble opinion, do you think we would be better off doing:

a) borrowing reno $ on top of existing IP that’s for sale?

b) waiting til aforementioned IP is sold and use profits of sale for renos?

c) borrow reno $ on top of our PPOR?

or

d) buy new investment property (with a good rental return)…[Read more]

Does $896 per quarter or almost $3600 per year not sound inaccurate though!?

It can’t seriously be that much.

ACT – $584 per year
Orange, NSW – $3,600 per year!

It does not make sense! It’s not fair, how can they get away with this!?? Expecially when there are pot-holed roads, <edited>ty intersections and the like around here!!???

I think I…[Read more]

[realsad]

that’s strange, considering Capital Gains Tax is based on the value at thetime the place started being rented out. Would of thought Capital Loss would be the same….

Would this work in the case of a rental property?? where the SALE price is less than the VALUE (VALUATION) of the property at the time that it started to be rented out??

or does it only work if sale price is less than the PURCHASE PRICE (what I paid for it)??

pasandbec

It gets even more confusing when you buy another property (like I did)….

I have to decide which property I’m going to claim as my PPOR – the one that’s now for sale (that I lived in and that was also rented out) or the new one I brought?

There is a ‘cross-over’ period of 6 months in which you can claim BOTH properties as your PPOR, but I don’t…[Read more]

alangould,

I am in the same-ish situation as you right now and I asked a very similar question to yours, on this forum, not so long ago.

I brought a house in August 2002, lived in it until September 2003 – at which time I started renting the place out (starting producing income from the property).

The house is now for sale.

CGT law can be very…[Read more]

Well my partner and I could buy 1 property.

How many could you buy?

Anyone else interested???

pasandbec

Hi,

I live in the close vicinity of Dubbo and can tell you that those streets are located in the North/West part of Dubbo which is the ‘yucky’ (so to speak) part of town. The whole of Dubbo is a bit drab bit this area is particularly so. Tenants will most likely be from the lower socio-economic group so there might be problems with rent being…[Read more]

Hi Derek [biggrin]

I would like to sell because I want to put the profits of the house into my pertner’s and I’s mortgage so that we can pay IT down to a minimum amount so that in 4-5 years time, we can afford to live off a single income (because we will start a family).

I figure with house prices slowly dropping over the next few years and…[Read more]

I directed my last post at PropertyAngel, but really, I’d like anyone’s advise on this matter.

Thanks all,
pasandbec

Thanks for your reply PropertyAngel!

Do you know the legal aspects surrounding selling and tenanting at the same time?

Can the townhouse be for sale before the tenant moves in? How much notice do I have to give the tenant if a buyer wants to be owner-occupied?

The townhouse is in the ACT.

thanks,
pasandbec

to clarify the question….

we have a house in canberra that we’re putting on the market soon.

brought for 196,000 will sell for 270-280k ish
say $70,000 in equity there.

do you mean a seperate/independant offset account?
to do that we need to borrow a minmum of $50,000 (already rang the bank)

thanks.

FUNNY![biggrin]

Monopoly and others,

I’d really appreciate if you took a look at this (response from this CGT specialist company I emailed) and see what you think….thanks.

_________________________________________

As you have established both properties as your main residence and moved in as soon as practicably possible, you have a choice as to what property…[Read more]

Well, after punching numerous ‘hypothetical’ figures on a few different scenarios, I think I’ve worked out the best way to go with this. Could you all have a look and give me your opinion, please? Ta!

I believe the best course of action for us would be to:

sell IP in Canberra and put profits from it into our PPOR loan
then
buy a new (cheaper) IP…[Read more]

OMG! I was born and lived in Tom Price until I was 7! I have not hear names like Karratha and Port Headland in ages!!!

What’s Tom PRice like these days!!!????

pasandbec

Thanks for the explanation, hehe.

Yeah, it’s certainly the best time, financially, when you’re DINKs. That’s why I want to set us up now, whilst we CAN, before we have kids.

Anyone have any advice on this???

Thanks