Def get some advise from a financial planner / lawyer. Paying off your PPOR would be the most sensible option IMHO but you really need to get some proper advice. Good luck!

Yep either a buyer’s agent or register to bid yourself via phone. Most auctioneers will let you do either.

TBH I’m probably in the “keep the penalty rates” camp, but I can certainly see the argument for abolishing. The current rates are very high and simply out of the question for some smaller operators, who can’t afford to pay staff outside of “normal” operating hours. However, people working these shifts need to receive some sort of compensation.…[Read more]

That’s just incredible. How can a supposed finance “professional” give such ridiculous advice?

Sounds like you’re living the dream guys! Good work!

Before you do anything else you should check with the council in your area to see if you are actually able to do this (ie if the zoning allows you to do this).

I’m sure TerryW would have a fairly good idea on this one. You out there Terry?

Holiday parks seem to be the holy grail of semi-retirement but def pay attention to what the other posters have said in regards to how much hands-on work is involved.

2br would make is pretty cozy, but it would depend on the area as to whether you can get a 2 br renter.

I've always though they looked a bit dodgy, thanks for confirming it Qlds007!

Some great advise from some experts here!  Thanks for sharing guys, you often save me from asking the same questions.

Congrats crest!  Now I know who to come to if I ever want to realise that long-held dream of mine of owning and running my own motel

Split system is definitely the way to go.  You are only obliged to provide heat and cooling, and this will do both, whilst potentially halving your maintenance costs as it's now only the one unit.

Welcome and good luck in your investing adventure!

Yep unfortunately it happens all the time.  Best to find yourself a dedicated property manager as opposed to a real estate agent (which is what you're trying to do obviously).

Yes, without a bit more info it's a bit hard to offer anything sorry.  They all have their good points and bad points and it's really going to come down to what you want out the other end.

I agree with Jamie.  You'd be best to talk to a decent broker who should be able to help you out with some viable options.

Sounds like you've made the right decision to walk away.  Plenty more fish in the sea as they say…

Good luck on your first IP purchase!

From what I know of the area, yes steer clear of Coledale and South Tamworth is your best bet.  What sort of property are you looking at?

Yeah no tax deductions available if you live in it, but CGT down the track is an option.