You are partially correct but there are other factors used to determine if this is your main residence see ato web site for some of these other factors.http://www.ato.gov.au/individuals/content.asp?doc=/content/36883.htm

if it is an auction I reckon $720 k as that seems to be what is happening in Melbourne auctions

You might need to complain to the mortgage broker if you used one and if you do not get a satisfactory resolution then check out this web site http://www.creditombudsman.com.au/or if you did not use a broker then I think you should complain in writing to the CBA bankseehttp://www.commbank.com.au/contact-us/compliments-complaints/default.aspx as…[Read more]

karenday wrote:
i thought all of the interest paid was tax deductable?  not just the loss between rental income and interest?rental return for the two properties is $29,510 a year combined.  interest payments are $16,250 combined.so halve the income:my income is $14,755 (rent return is my only income)

Your net property proceeds is equal to r…[Read more]

A lot of the owners can have a denial about having to move in to a full blown nursing home. So they move out of their house and into a smaller unit. As time goes by they then realise that they cannot look after themselves and then have to sell their unit to afford to move into the nursing home.

The bank will most likely lend to 80% LVR on your existing investment properties. (and you need to be able to service the new total debt amount)Also if you go for another loan the new lender will want to know your existing debt and will factor this with your income so see if you are able to service the new loan.

You will not be able to borrow large sums of money without a steady larger income stream.You will also need a deposit. Maybe you could save your income to put towards a deposit at a future time when you have a higher paying job.

or you could use the excel template that is downloadable called amortizationThe formula could probably be used in a calculator but you would need a financial calculator and would most likely it woudl have a PMT function similar to the excel function PMT and it would require you to carefully read the calculator's instruction booklet to work out how…[Read more]

Really depends on how many other similar new developments are for sale in the suburb as it is driven by market price due to different forces of supply and demand for new developments. Its a different market to second hand houses or second hand units.A lot of developers get into trouble as they can only get a sale price determined by the market…[Read more]

Good thinking I can see how you came to this idea. But the 150k redraw has to be for investment purpose that produces income to be tax deductible. Here is something else to think aboutWhat is your current marginal tax rate is it 40% check tax rates at?http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htmSo at $150,000 x 6%…[Read more]

Maybe you need a more efficient heater to use in conjunction with the Coonarra heaterI used a NoBo heater when I lived in a house with limited heating for my two new born daughters.See http://www.productreview.com.au/mpl/1106/2524/Nobo_Electric_HeatersOr something of similiar design as there as other makers of similar heaters on the market.here is…[Read more]

http://www.tradingpost.com.auI am currently selling my car through them.My car ad cost me $7.50 for about 16 weeksIt is on the internet so when Saturday occurs most people check out the web site and call the seller.

this has been answered at duplicate posting https://www.propertyinvesting.com/forums/property-investing/help-needed/4328390

Emma, You need to be aware of the possible pitfalls to you of vendor finance. Get a solicitor to go over the contract with you because if the investor is not ethical they sometimes take all your payments if you get behind in repayments and take the house back.Another scheme that I have read about is where the tenant rents to buy the house.The…[Read more]

I put down about $100, it is what ever you can get away with paying to hold the property but you usually have to find the 10% deposit before settlement occurs at a later stage of the proceedings. Your solicitor will nudge you to pay the required deposit in the later stages of settlement.

If you have an impaired credit rating look at non-bank lenders or bad credit home lenders.What they do is charge you a little bit more on interest and require a higher LVR but you might borrow some of your equity in the existing houses to take out an equity loan to get a lower lvr for the non bank lender…[Read more]

Always work backwards. What is the sales commission to the agent cost?What can you sell the finished property for. You can only get what the buyers are willing to pay. (Final Proceeds)What will be the advertising /marketing costs.How long is the development going to take to complete and sell. Every day you hold onto the project costs you interest…[Read more]

Yes it is confusing this statement below is the cause.you or your spouse (including de facto spouse) have not resided in a residential property in Australia in which you acquired an interest, on or after 1 July 2000 for a continuous period of at least six monthsreference fromhttp://www.osr.nsw.gov.au/benefits/first_home/faqs/fhogs/eligibility/If…[Read more]

Price will determine where you can invest in Melbourne. You could pick up a house in Cranbourne for $240,000 – $300,000.Cranbourne has a train line and access to Eastlink in a round about trip. Be careful avoid houses near the old tip site if they are offered to you for a really cheap price if you decide on Cranbourne.

turn up to this meeting held in North Blackburn each month next one is Monday 6th Julysee post belowhttps://www.propertyinvesting.com/forums/property-investing/general-property/4328162orhttp://www.activepropertynetwork.com.au/