Recent content by Chromium

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    Subdivision 101 and Duplex

    Also... what is the difference between subdivision v/s dual occupancy v/s strata title ? What are caveats for each ?
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    Subdivision 101 and Duplex

    Folks, Is there a subdivision and duplex construction 101 / primer anywhere on the forum ? When considering a subdivision and duplex build, what primary considerations are taken into account ? I know each council will have their own set of LEP. But I think in NSW, isnt each council...
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    Western Sydney Meetup - Wednesday 20/5/15

    Looking forward to meetup. I desperately need some mentoring. I have a sketchy idea of what I want to do but need some expert guidance in treading these waters. I will be there at the meetup but if someone is willing to be my mentor, I can meet you before as well. Alternatively does...
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    IP LOC offsetting PPOR

    Folks, Can I do this..? Situation. 1. IP - Valued @ 545000K with a debt of 186K. LOC available of 250K. 2. PPOR - Valued @ over 900k with a debt of 230K. Can I draw down 230K LOC from IP and park it in an offset account aligned with PPOR ? Thereby I will not be paying...
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    what price to expect for 100m2 concreting job?

    I have just put in a 14 sq mtrs of plain 100 mm thickened edge beam concrete in my backyard. Cost me more than $1900...:eek: I know it was on the higher side but I was pressed for time. Archicentre.com.au are a good guide for price calculations. If eventually it is gonna be a habitable room (...
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    Invo prop # 2

    Hello folks, Just after some advice on a step forward. Situation : Investment property - Older style house valued @ 500K in desirable part of Sydney. Rented out @ 420/week. Still Owing 245K. PPOR - 3 bedroom T'Hse in Sydney. Possible rental returns of 350/week. Still owing 260K...
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    Sunroom in townhouse

    Hello, I am after some tips on building a sunroom. I own a unit in a Townhouse complex in NSW. Each owner has exclusive use of backyard that is adjoined to their unit, although it is common property. I have permission in principle by all other strata owners to build this sunroom...
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    Next property

    Folks Formerly PPOR but now IP Valued conservatively @ $450000 owing $250000 Rented out @ $420/week to a good tenant. Formerly IP but now current home valued @ $350000 owing $318000. Now feel the need to move into a bigger house so will make current home into an IP too which can be...
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    PPOR to IP and IP to PPOR

    Hi JRC, Thanks for your query. By redraw as in ...redraw the money to buy luxuries...?? In that case. No. By redraw as in ...redraw to buy IP ?...In that case. Yes. To clarify further. Initially borrowed 328K from CBA to buy PPOR. Paid it down till 255K. Then borrowed 63K again to buy...
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    PPOR to IP and IP to PPOR

    Folks, I am after some preliminary accounting advice on converting PPOR to IP and converting IP to PPOR. (I will seek a professional advice once new year begins) Background. PPOR bought in 2003 @ 395K (valued conservatively @ 420K now ) Initially borrowed 328K from CBA. Now owing 255K...
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    2 IPs and capitalising interest

    Thanks Rolf, " All 3 properties once rented will form part of your tax position " 3..?? Not 3....Just 2 IPs. IP # 1. 90 % on my name & 10 % wife. Current PPOR (future IP # 2 ) 50/50 ownership between me and wife. " In general its no good chasing more gearing if your taxable...
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    2 IPs and capitalising interest

    Currently I am living in PPOR. Valued @ $420K owing $255K Interest variable @ 5.54%. IP # 1 Bought @ $305K. Valued @ $350K. Rented out @ $340/week. Interest locked in @ 9.00% (ouch). We are thinking of making our PPOR as IP # 2 and renting it out @ $350/week on a loan owing $255K...
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    PPOH to IP to PPOH to IP..? Confused..

    Hi Bear, Thanks for your response. * The loan on your PPOR needs to be clean to be able to claim it on your tax. As you've had the property for a while there is a chance you've redrawn against the house to purchase a car, holiday etc. The interest on this aspect of the PPOR isn't tax...
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    PPOH to IP to PPOH to IP..? Confused..

    Can someone show me the path to enlightenment..?? please...!!! Situation. Husband - Earning $80K Wife - Earning $35K 2 Kids under 8. Property / Loan Status. 1.Old ish PPOH @ Normanhurst.Conservatively self valued @ $420K atleast.(If rented out expected to get atleast $350/week)...
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