Hi. Are they all crossed? You neglect to say what the loans are on each. Are they separate loans?So you don't have a PPOR? More info will be helpful.

cmason wrote:
OK, we plan on living in this house for the next 20 odd years(until the kids leave) and hopefully will pay the loan off within 10-12 years(quicker the better) and have no plans in renting it out, will it still be a problem?

So when the kids leave home you will definitely sell it?  Maybe not. So you will have a fully paid off…[Read more]

You would have been better having the extra money in an offset account then you could have pulled it out to do with what you want. If you pull equity/and or the redraw out to put on your new home it is not tax deductable. You can do it though.Only money you spend on an asset that creates an income is tax deductable. Sorry.

Hi it depends what info you need. Have you chosen an area? Type for purchase? house, unit etc.If you need to know how purchase will affect your tax ask your accountant. If you don't know how to get on the path to financial freedom speak to a financial advisor (but they will probably advise against property).  Have you nutted this out? Do you have…[Read more]

Ask if seller is open to a quick settlement or extended settlement (choose the one YOU want).Is rental lease expired (if one). What's their rent and what is market rent? When was the last rental increase. Check on Realestate.com to see what rents should be.Rental demand in area? Although most selling agents don't know this info. Speak to the…[Read more]

Hi Wonderland, you talk about the end of a cycle but I don't see where you wish to buy. Different states are in different stages of "the cycle". Where are you considering?Agree with getting knowledge. Many people jump in and buy without knowing about why they want to buy property.If your income is going to be reduced possibly buy something that…[Read more]

Some people base it on what they borrowed (eg 80%). I think you are fooling yourself. If I only borrow 50% then all mine are CF+. I base my figures on ALL costs. Ie 100% purchase cost + Solicitors fees + stamp duty etc etc. Work out the interest rate on this for a year then add insurance, rates, strata (if any) etc. If this is less than the rent…[Read more]

WOW!! Looking good so far. I'd love to get your final figures.   Start my reno in 5 weeks. Not as extensive as yours. New kitchen, bathroom, dividing a room in two. One new window, strip ALL wallpaper, paint etc etc.

Are you going to live in it? If YOU WANT a pool put one in. Our kids were never out of ours for 10+ years so it was value for money.  Otherwise I wouldn't put it in as a money making exercise.

Maybe the property is tenanted. ie there is a tenant that has a lease. Find out when the lease expires and what rent they are paying. If it is under market rent lower your price to compensate.

DANGER!! DANGER!!Really I would be doing a lot of research first. These guys don't go cold selling for no reason. Check out the area, what prices places are selling for, how long are they on the market? What rental vacancies are like etc. Is it a massive development? if so there will be hundreds of places all for rent at the same time. These guys…[Read more]

Hi, if you rent it out you can certainly claim the interest (and strata fees, rates and any other costs) as tax deductions. How much rent do you think you will get? Work out what your outgoings (interest, strata, etc) minus rent will be.  Don't forget to take out the agents fee (unless you self manage). This is the amount you can claim on your t…[Read more]