Forum Replies Created
Snoop,
From a purely unprofessional opinion, it sounds like a complicated way of doing things.
What state you are in is going to be a big factor, as you may get absolutely murdered with stamp duty when exchanging the properties with each other, but at the end of the day you can still do it, as the properties seem to be in your individual names (thus only one of you on the title).
In regards to using the money from your existing propertys equity, it doesn't matter who the house belongs to as far as maximising tax deductions. The only thing that matters is the purpose for which the money was borrowed, i.e. to produce an income or not. If you're going to use the equity in your home, and hers, to purchase a PPOR then that portion of your loan is not deductible.
The Capital Gains question is a bit like asking how long is a piece of string?
A little more information is needed, however, if the property has only been used as an income producing asset for 1 year, and it has realised a capital gain over the time you have owned it, the gain will be apportioned and you will only be taxed on the 1 year portion of it.I hope that helps somewhat, but I'm sure there'll be plenty of other helpful hints.
Matt
Yeah ok – i got it to work but clicking on Australia before the page had fully loaded. Once it fully loads you are stuck in a You Tube loop….lol
I can see the advantages of the website, but the downside is that you are just being redirected back to the main real estate sites to get your information. I can see that it may cut down some time in the search process, but compared to the alternative, Real Estate Investar, I reckon you are still going to spend hours or days searching for the rest of the pertinent information.
Real Estate Investar puts it all at your fingertips – I'm happy to pay for the amount of time that it saves me, and for the quality of homes that I add to my portfolio. However, each to their own.
Ipalad,
The site is very accurate and yes I do use it myself.
The research tool utilises PDS Live which is one of the other major players to rival RP Data. So it's actually PDS data and tools that are provided in the package.
The advantage of the website is that it's the only one that allows you to search for IP's specific to your own investment strategy. It utilises a heap of extra filters to really drill down and only display the properties that match your criteria. You can then crunch the numbers (which is another utility on the site) to work out if the project is viable – fall in love with the numbers first!
The properties that are listed are synchronised with all the major websites, and a lot of minor ones, so you're looking at the same properties, but it means you can filter out the tens of thousands that don't match what you're looking for.
It is a very young and new product in the market place, so it is not that well known (although it will be soon), and it offers the investor such powerful resources, that it will pay for itself in no time…
Hope that helps…..
Matt B
A little more information is needed, however, if the property has only been used as an income producing asset for 1 year, and it has realised a capital gain over the time you have owned it, the gain will be apportioned and you will only be taxed on the 1 year portion of it.
