Hi everyone. This is my first discussion in the forum. I currently live overseas as an expatriate in Shanghai. I own property on the Gold Coast. I bought a house 2 yrs ago and have been very focused on paying it off as quickly as possible. As a result I pay far more than the monthly requirements.
My questions is?? Should I continue to pay the house off as fast as posssible (1 more yr to go) or should I buy other property and diversify. The only problem I have with diversifying is that I don’t have the time to scout out property that make sound investment sense.
The other question I have? If I have an investment property – can I roll over any capital gains taxes payable if I upgrade to another investment (like the American system)?
Thanks for any suggestions in advance and I look forward to taking a greater part in the forum in the future.
Regards from Shanghai, CHINA.[
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Greg..Hi Greg,
Great to see you on the forum.
Unfortunately there is generally no CGT roll-over relief in Australia for property like there is in the USA.
As for what should you do re: your property, I’d do what brought me to my investing goal the quickest.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Greg, I’d continue with the repayments and wait until you get back home so you can start having a good look at other properties to invest in.
You must have a lot of equity in your property by now and if you keep the repayments up, you’ll have a +ive cashflow property as well as free title to it which you can use as security for your next property.
I’ll be on the Gold Coast by mid April if you’d like to talk about doing some investing together.
If interested, send me an e-mail at [email protected]Ciao,
Quentin~ better to die on your feet than to live on your knees ~
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