Thanks, given loan was $400k now $375k and the house is potentially worth $440k now…is that equity of $65k? Or do banks generally value your house on the low side thus reducing this? Should I be trying to max out my equity for the 2nd loan to reduce LMI?

Just to clarify….$400k loan with $375k owing….house how worth $430k ($30k equity)

Want to get a 2nd loan $400k for IP.

What is the best way to go about this for tax etc? Do I refinance my home loan to get the equity out as deposit for 2nd loan? but this would need to be a separate loan to claim it on tax?

This is my first property, and within Sydney….therefor def negatively geared

Thanks guys, looks like i’ve been charged about 2.3%, which seems reasonable now….just got abit of a shock seeing $8800 at first …

Rough figures? It does seem on the expensive side…with ANZ btw..

If i rent out one room for additional one year then move in soley without renting out, and plan to stay there say 5 years. I would only need to pay CGT on the period it was rented out 100% and a small percentage for when i was renting out one room? Sorry about all the questions just trying to get my head around it all and make sure i’m not missing…[Read more]

When you guys talk about CGT exepmtion, what do u mean? Considering I will be renting out my place 100% initally for 10months and then move in planning to possibly rent out one room while I live there….

So if it’s a 2 bdr villa and 1 bdr is rented out, living/dining, kitchen and bathroom is shared…what would be the rough percentage i could claim on my interest repayment as a tax deduction?

Thanks for the replies. I think I’m after more of a beginners overall guide to real estate then a money/investment strategy book right now….How is The Property Investor’s Handbook by Graham J. Airey?