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    @pert
    Join Date: 2003
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    January 27, 2013 - 4:39 am

    One of the props in Leopold at approx 12 squares and the other is in Drysdale.

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    @pert
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    January 26, 2013 - 9:01 pm

    Interested in your comments. I am looking at a few different scenarios.

    1/ keeping my ppor and renting out investment property, problem is this scenario is not going to create much in the way of capital growth in the for seeable future.

    2/ Sell ppor, move into investment property set up an interest offset account putting in approx 200k.

    200k could be used for deposits for future investments. (as seen on property success with Margaret Lomas).

    Any thoughts?

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    @pert
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    January 7, 2013 - 8:02 pm

    Hi, what is LO and IC property?

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    @pert
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    January 7, 2013 - 7:58 pm

    I'm 54 years old.

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    January 7, 2013 - 12:17 pm

    Thanks! It was a strategy I had in mind

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    @pert
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    January 7, 2013 - 12:15 pm

    Hi Shahin,

    Thank you for taking your time to reply.

    I will certainly give this some thought.

    Interest rates are because I am self employed and went for Lo doc.

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    @pert
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    November 10, 2011 - 8:34 am

    Can any one tell me what a ppor loan is.

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    November 8, 2011 - 8:03 am

    Thank you!

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    @pert
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    November 5, 2011 - 7:59 pm

    Hi Ballerina,
    Thank you for your help regarding my question.

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    August 15, 2003 - 2:19 am

    quote:

    if you can build and make such a profit it sounds worth it. could you rent your house out and rent another cheaper one to live in? – just whilst building – and then sell one to pay off the other?
    good luck.

    True I could rent mine for $350.00 per week and rent another cheeper one but I need to sell mine to raise the finance to build. even if I borrowed 80% of the equity which would be approx $240,000. This would not be enough to buy the land $135,000 and build approx 170,000.

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    August 15, 2003 - 1:50 am

    quote:

    I got a question pert: Is your current loan 145k placing a strain on your finances (ie hard to service)? I think that is the crux for determing if you should sell or refinance to invest (though I could be wrong).

    Atm you say you have around 305k equity (450 property – 145 mortgage). At 80% LVR you could borrow 244k to be used for investing purposes.

    However, if you sell (leaving you with roughly 305k cash, I’ll ignore costs) – how much would it cost you to rebuild? Already you’ve said the land is about 135k, so that leaves you with 170k to build a house. That’s not much – is it enough to build a house for you?

    This brings me back to my first question. If the reason for selling is cause of strain on your finances, I don’t think it’s wise to get MORE loans that might be unservicable for you too.

    So while selling doesn’t seem the best, it might be the best option.

    Man – I hope that makes sense cause I kinda forgot what I was trying to say… LoL. Sorry. [:I]

    Current mortgage is a strain.If interesr rates go up then we could lose house.
    $170,000 to build is not huge but getting a mortgage for say $50,000 and building with someone like metricon would infact get me a 27sq house for 95,000 less the mortgage we have at the moment.taking into account the land value around the area and being close to the sea (not with views),In this area a house of 27sqs is selling for $425,000to455,000 giving us a property with approx380,000to 400,000equity but only with a mortgage of50,000 rather than the current $145,000.

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