Recent content by superman

PPOR will never become an IP: it would be owned outright and rental yield would probably be around 2%. Not much of an investment. The loan is first drawn to buy a PPOR so interest would not be tax deductible. Then the loan balance is quickly brought down to zero and then new re-draws are...

Hi everybody, Want to set a loan right for longterm. I'm in the process of selling two fully repaid IPs with contract exchanged on one and offers within 10% of what I want on the other. Assuming I sell the second IP, I will then have $X cash (with some CGT payable later). I also have a...

Thank you, everyone. I'm learning so much. I guess the question is whether it is technically possible to put a second floor on top of an existing single brick-veneer house. I would think that this question is for a builder, not an architect, right?

What about a 70s single storey split level brick-veneer house? It's not modern, but not ancient either. The kitchen is new; two bathrooms could use renovations. Building a two-storey house in place of the existing one would cost around $500k (saw neighbour's council approved plans). What...

I am considering merits of demolishing an existing single storey house and building a two-storey one in its stead versus adding another floor. I am at the very beginning of my research being at my most naive. Are there any time tested rules of thumb on the issue? Say, if a house is older...

Thank you very much, Mry.

Just want to make sure I get it right: a discretionary trust needs to have an ABN and TFN; a corporate trustee of a discretionary trust does not need to have an ABN or TFN; a discretionary trust applies for an ABN and TFN and names the corporate trustee as an associated entity; the trustee...

Come to think of it, it is probably 9.14% now. The letter is still in the mail.

Adelaide Bank, 8.89%

Appealing to the collective wisdom of the forum: When I upgraded my PPOR some 2.5 years ago I already had several IPs and so could only get a lo doc loan for the new purchase. Several rate increases later it is becoming expensive, especially compared to the interest I pay on HomePath...

Where would one start looking for a large block of land for development? I’m thinking 2-20 hectares (or more) within 1.5 hours drive to Sydney (say, Central Coast). Many thanks. superman

Hi everyone, I am buying an average 40 year old 3 bedroom single storey brick veneer house in Sydney with the intention to keep it as an IP for a year and then convert it to PPOR. Considering the age of the house and the cost of getting a depreciation schedule, is it likely to be worth it...

What would vendor’s settlement instructions to a settlement agent normally contain in QLD? Is there a standard form? Many thanks, S

Here's a good question... (takes place in Sydney) I saw a property last week with an agent who told me that they had a signed listing agreement with the vendors. I asked for a contract, but was never given one. So, getting impatient, I put in an offer in the form of a letter which was...

Thank you very much for all your suggestions. Let me clarify/reiterate: The interest on the loan is fully tax deductible and I would like to keep it that way. The PPOR has become too small for my growing family, so I don't want to rent it. Although I would dearly love to add to my 4...