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Thankyou for your help. I should have provided some more information. I am looking to use it to produce more income for us so I thought maybe an extension would increase the rent we might get for it but after reading all your advice I think it is better to hold onto some and use a portion to...

We have just had our house valued and are able to draw approx. $100,000 in equity. We would love to complete a renovation on it and build it up 2 story and add another bedroom but wonder if we should purchase more property with the money. What do others do when they have such equity in their...

hello, Does anyone know if there are any lenders out there who will provide finance for a property while you are still in your 3 month probation period at work. I know that it may involve higher a higher interest rate etc. but I just wondered if anyone has been in the same or similiar...

Thanks for that. Do you generally find that vendors are happy to take such a low deposit?

Does anyone know where I could find some examples of letters of offer used to make an offer on a property. Thankyou

Hello, I was just wondering if buyers are offering 10% of the purchase price of a property as a deposit. I am looking at making an offer on a property but the vendors want a 6 month plus settlement and I dont want to tie up $20,000 for 6 months when it could be sitting in my offset account...

Thanks James, I am glad that the losses will help offset the cgt, can you tell me if the cgt is payable only on the profit I have made on the property eg. if I purchased the property for 200,000 and sell it for 300,000 then do I only have to pay cgt on 100,000? Thanks James

Hello, I know it is ill advised to sell property held in a discretionary trust however due to circumstances there is no way round. I know I will be up for cgt (I hate to think) but I wondered if the fact that I have never made a profit off this property and made losses for several years will...

I was wondering what your views were on paying off your home first before buying an investment property. I was reading John Burleys debt reduction plan and it seemed to make sense to me to pay off your own home in under 7 years and save hundreds of thousands in interest repayments but am I...

I was just wondering if anyone has used 'Advanced Financial Answers' as their accountants and if they were happy with them. I am not looking for an accountant but a friend of mine wants to use them and as I have not heard of them I thought I would ask here. Thanks for your help.

Hello, I was just wondering if you can claim whitegoods on your tax return for your investment property that is held in a trust. Thankyou for your help.

Hi Geoff, Thankyou for your reply. I thought that I had mentioned it :eek: sorry for the omission. Yes, the property that has not made any profit is held in a trust. So I understand what you are saying is that I cannot use those losses against a capital gain that I have made selling a...

Thanks Nigel, So are you saying that if I realised any capital gains through a property sale or shares that I could offset those profits against the losses through the trust even though the profits were not made through the trust. Thanks

Hello, I have an investment property which I have as yet been unsuccessful in obtaining a postive cash return for since its purchase. ie. my outgoings have always been higher than my incomings :( So far, I have accumulated some $20,000 which apparently I can claim for once the investment...

Hello, I am looking to purchase a rangehood for one of my properties that I intend on living in for a while and so wanted to purchase a very good quality one. The only problems is, the market seems to be flooded with them and the salesperson is recommending any one I look at to get a sale! :(...

Hello, I have a problem with rising damp in my IP - it does not seem too bad at this stage, actually noticed it after having the house painted and it started to bubble in places. I am in Melbourne and needing to get some quotes from specialists who treat this problem and wondered if anyone...

Does one claim the interest only payment on tax made to the bank each month for ip loan repayments? Cant really believe i'm asking this, I've had a block in preparing my tax return. :confused:

I wondered if anyone has set up a business which is used for the sole purpose of renovating properties and if so if they would mind sharing their experiences. For example buying products eg. carpet, appliances at wholesale etc. Is this legal and indeed viable? Thanks

I just wanted to thank everyone for the responses I received and especially to Kristine-thankyou so much for such a detailed response, many of the points you raised I had not considered and I appreciate you speaking of your experiences.

I have recently obtained a natural healing diploma and was looking for a consulting room for rent in which to practice. I wondered about the possibility of purchasing a house and converting it into consulting rooms which I would in turn rent out and use one myself. I understand that I can easily...