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Re: above comment Main res exemption kick in after the 6 year absence end date ie. Jan 2013, not after sale date.

GaryT, when you say I should keep all receipts for the life of ownership, why will I need receipts AFTER the sale of the first property ? Wont main residence exemption kick in after that date ?

Yes that's absolutely correct. So although we never really intend to sell our current PPOR, I am a little confused as to what to do. I am also thinking if it is an option to obtain a val (for both properties) for a point in time since which there has not been significant capital gain on...

OK, thanks so much for the reply GaryT. That confirms exactly the understanding I got from the ATO website. My question then would be can I engage a valuer NOW to estimate market value at Jan 2007. I don't believe we had a valuation done at that point in time. If not, then can we just use...

hi guys.... I havent been on here for a while as my steam for property investment has slowed down and we are considering selling our IP to pay off our PPOR and then just see what comes next... I need some help with calculating the CGT payable upon sale of this IP which was once our PPOR. Here...

Thanks for the replies. The reason for the possible income drop is that I am looking to leave my job to ramp up a work from home business. The resulting income (in the short term) would be lower than our current total. The $10k/month does not include the $36k/year rent we receive from...

A few months ago, I had posted for some opinions on the advs/disadvs of selling our IP which used to be our PPOR (we have just hit the 6 year mark). I am now thinking that instead of selling, I should get some equity out of the property into a LOC. At the same time, will request a LOC against...

That is the plan. See you there Raj !

yes you are probably right. I dont know if it is that I need someone to nag me, I think I just need company of people who are like minded. Which this forum does. But I need more direct and personal interaction, and that may be a reason I was so inclined to the offer of the mentoring program...

Their definition is that I attend at least 2 of their bootcamps (included in price) and to provide documented evidence of my property investment activities. Its a bit vague isnt it ?

Ok, so I am just thinking out aloud here.... If I have decided that property investment is definitely my chosen vehicle to financial independence and I am ready to purchase 1-2 IPs this year, but I have a sinking feeling that I may do nothing will all this new knowledge, and before I know it...

I was led to his website through some posts he made on Propertyinvestor.com.

Tobe, I actually won on the night. Normally I would have been elated at "winning" something, but my enthusiasm was already deflated when they thoroughly pushed the $199 session on everyone sitting there. Even the couple who said they would most likely do it, but wanted to go home and talk to...

I will be there too!! Looking forward to meeting you all. Hope there are going to be other newbies coming other than just myself :o

Thanks SO MUCH to everyone who replied. I have cancelled the appointment. I feel better now (so does hubby). I am still in a position though of wanting to do an execise of running my numbers and brainstorming a plan forward wrt investing in property. Somersoft has educated me more than I could...

Hi there.. I went to a seminar last week held by a company offering financial advice. TBH, I dont know where they got my details from when they contacted me with the invitation. They spoke about mortgage reduction, and retirement solutions through property and SMSFs. After the session, they...

You are likely correct. My understanding was that at the time of sale (say June 2013), I can nominate the IP as my PPOR. But I would lose PPOR status between 2008 and Jun 2013 for my current PPOR if I was ever to sell it. Can anyone please clarify ?

Yes the sell costs (REA commission) and subsequent buy costs esp. SD add up to a fair bit. Your third suggestion (hubby buys out my share) is something I might look further into. What are downsides of this option ? I ask because at face value, it seems too good an idea -ie we get to have our...

Hello everyone ! I am currently reading books/forums to build my knowledge in property investment. This forum (ie you guys) is AWESOME !! I am learning sooo much. I work part time in IT and earn well but am very disillusioned with my job (and the corporate life in general) and looking to get out...