Forum Replies Created
I think you have misread what I wrote.
I'm not considering selling the house, I'm considering selling the apartment.
Refinancing the apartment and putting the extra funds on my PPOR mortgage would be counterintuitive as I could not deduct the interest on those funds as my PPOR is my PPOR, not an IP.
No, I have not claimed anything as yet. I completely forgot / didn't know about claiming interest on the deposit when I paid it 2 years ago. Oh, how I've learnt since then.
I'm also interested in what is required as I am about to rent out my first IP.
If I have a property manager managing the apartment, do I still need to take out landlord insurance?
Another similar complex settled around 2 months ago so for interests sake I might follow up with the agent who is managing that building and see how they have gone with getting tenants in.
What powers have I got to ensure that they don't provide me with inflated figures? For example, am I able to ask to see a current rental contract (with personal info blacked out) for a similar apartment to get an idea of how much they could get me for it?
The way I see it is if at settlement time I follow the pack there are likely to be tens of apartments up for offer from the 'primary' property manager.
If I go with a manager who is managing less lots from the complex, there is a greater chance of a client being interested in my lot.
I guess demand plays a big part in it really… Thoughts?
Thanks for that info, Scott!
I'll have to go speak to a few places next week and see what is out there.
To clarify, I would of course not claim the FHOG on the investment apartment since I would not actually be living in it. I would claim it on my future purchase.
imugli, thanks for the advice and explanation.
Terry, that site has a lot of useful info, thanks for that. Also what you said in your second post makes a lot of sense.
Thanks for the help guys. Looks like I will have to make do with the $13,000 FHOG.
Maybe it is a good idea to put off buying another place for another 3-6 months to allow myself to move into the studio apartment and do as much reading on investing as possible.
I think we will get a high loan for the studio apartment to allow us to redraw funds as needed. Terry, I am unfamiliar with the CGT exemption you mentioned; is there any place I can get more information about this?
Also, if I do decide to buy the two apartments, is it a better idea to put all my money in the investment property and try to positive gear it, or put the money in my PPOR and negative gear the investment property?
