Richard I take it that this is a short term loan and the LVR is on the property for renovation? leaving the PPOR as collateral for the O/D?

Obviously the interest rate on this kind of loan would be markedly higher?

Thanks for the reply Terryw.

Thanks everyone for your advice.

I will look into unit trust or other options and see if that sits right with what we want to achieve. I just want my cake and eat it too! haha.

Thanks again.

Thanks Terry. Sorry for the late reply.

Thanks Terry.

We paid outright for the land, so would that be considered part of the costs? If so I doubt I will be able to make a profit, as the land has suffered quite a loss in value.

Whilst on capital gains, I have a question in regards to the dreaded CGT.

we sold our first home some ten years ago and with a portion of the profit we bought a block of land( not one of our better decisions). As it turned out we have had the land sit there for some time and now want to reclaim that money. Problem is, two of Australia’s biggest…[Read more]

Thanks Terry and Richard.

Good advice regarding capitalising the repayments.

Thanks JBC.

Some really good info there. Have already been down and checked out Hobart, and will be down to look over Launceston in a couple of weeks. We have been flipping houses on and off up here in QLD for about 15 years. Has been a nice little supplementary income, but work is taking me south. At this stage Launceston seems likely, although…[Read more]

Hi JBC,

My wife and I are looking at relocating into either Launceston or Hobart either later this year or early next year. We will be looking at purchasing shortly. I noticed you are a legal eagle and perhaps you can answer a couple of questions for me.

1. I have noticed that there is no cooling off period in Tas unlike QLD. Do the same T & C’s…[Read more]