Hi All,
Can anyone recommend an excellent Financial Planner / Accountant who is experienced in IP's. We live in Sydney so either CBD or preferably Northern Beaches.
We are unable to keep on top of our mortgage and going backwards slowly. We have decided to move to Queensland's Sunshine Coast but dont know whether to sell our current PPoR or rent it out. The only problem is we dont know whether we can afford the shortfall between rent earned and our mortgage (which will be around $300-$400 week). I know we can claim back a lot of tax if our PPoR becomes an IP but we cant wait until end of tax year to claim it – I believe we can get a fortnightly return which would help a lot, but we are desperate for some advice. We literally do not have a cent in the bank. We have a $15k credit card debt so any income earned goes straight onto paying off our visa. I'm only working part-time whilst I bring up 2 small kids and I'm pregnant with our 3rd.
My husband is a builder so our plan was to start again, ie sell up, move to sunshine coast, buy a block of land and build our own dream home with the money made from selling our current PPoR (would walk away with approx $250k). But we know its a bad time to sell and everyone keeps telling us to hang onto our current home and rent it out (if we can afford too). But we're going backwards fast and the financial stress is taking its toll. We are desperate to begin our own IP portfolio but going nowhere…
If anyone can help with names of someone who can get us on track it would be much appreciated.
Thanks for reading
Boshie
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