- venturaMember@venturaJoin Date: 2003Post Count: 7
I am about to make a BIG decision and am in need some solid advice PLEASE !
– got only 1 x +geared hse on rent in NZ( getting $300 p/wk & owe bank $150K) current hse market value=$300K.
– since we now live in syd ( renting) we were thinking of selling that off & buying a hse in syd on a large land that we could later subdivide, when my wife goes back to work.
– would this be a sensible step to take towards entering the “property investment world” considering I have moved to Syd 2.5 yrs ago or should I borrow on my equity and buy more IP in NZ. ( note – being on 1 income @ the moment I won’t be able to borrow enough in NZ to buy a hse in Syd)
Any advice/ideas would be highly appreciated.
Cheers!MelanieMember@melanieJoin Date: 2003Post Count: 382
Hmmm …. from the finances side I think a bit more research would be in order for this one before you leapt either way, starting with a broker to get an idea of your borrowing capacity under both scenarios, and an accountant to tell you the impacts. I know NZ is capital gains tax free (lucky for you!) but there may be issues because you earn and pay tax in Oz to consider.
TerryW on the forum is a Sydney broker, plus I know others, if you would like their details drop me a line.
From the r/estate side – are there any sub-dividable properties left in Sydney??