Hi All, need advice on next investing moveW have just finished renovating our PPOR in sydney. The house is valued at 680k -700k, we have a mortgage of about $350k.We love renovating and are pretty good at it, I am a designer and my husband is a builder. We have our own business where we have lots of tradespeople working for us too so renovating is an obvious strategy for us. Any advice on our next move, ie sell our PPOR and use the profits to start buying investment properties that we can renovate and hold and rent or sell. we are quite attatched to our Sydney house (big mistake I know) We would have to rent a house to live in in this case. Or should we stick to renovating PPOR's and sell every 5 years or so. We dont really want to live through another renovation as this one took us 4 years (we didnt borrow any money to do it so did it the long way) Were both in our late 30's and want to fast track our finances. as we have our own business we would also like ti think about structuring our property investments separately to our business interests. At the moment all our assets are in our names and probably quite vulnerable should anything go wrong with the business.
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This topic was modified 9 years, 1 month ago by
Administrator.
To get an accurate answer you would have to expose too much personal information on this site. I do not completely agree with that concept. Sit down with your local guru and come back with your thoughts and questions. It will be a little safer.
Why not look at accessing equity and then repeating the process with another property while staying in your one?
If you are doing this professionally as a business then you will not get any main residence tax exemptions anyway.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks for your reply, Thought it might be a bit vague to get any responses. Firstly we are not professional renovaters ie its not our busness, we work in the entertainment industry so by chance have tradespeople through our doors.
So how do we find professional impartial advice. we are in Sydney.Hi Jo,
We could be sisters in circumstances
If you would like to change your profile to allow contact, I would be happy to let you know how I am set up (being self employed and investing).
I didn't feel comfortable sharing all the ins and outs of my structure on this forum.
Cheers
Karen-
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