Search results

We recently had it on the market and these bargains make it very hard to sell, unless we are prepared to drop a lot, which were not going to do. Its currently off the market. Spoke to the real estate agent over the weekend, there is a shortage of 4 bedroom houses for rent in our section of...

Thats correct. The current loan has been used as a redraw hundreds of times over the last 4 years, so is currently unclaimable. Just trying to work out if we can make something claimable or if we should sell. Purchasing the 50% sounds like a great idea.

Have you been happy with the yield on this property? Also, totally dependent on your property size & features, wouldnt 2 weeks work & $15-$20k cover a full re-paint, new carpet/tiles and a freshen up so that you could now achieve top dollar for sale or more yield? Some could also be claimed as...

Out of that $368K we would have to repay the current $320k loan on the property. This leaves $48k over and above the $320k that wouldnt be tax deductible unless I put it towards another IP, which I dont want to do just yet. I will refinance for those purposes down the track. Of the $320k I...

Sorry, further to this, couldnt this create problems down the road when it comes to accessing equity & the serviceability? This house would be in just my name whereas we would be purchasing further IP's in both names.

Ok So lets run with the scenario that I purchase the house. What would happen with the current $320k loan? Would I borrow $320k under a $230 & $90k split of which the $230k would be deductible & pay the current loan off? I guess If I borrow in my own name then they will take the 100%...

Hi Marg The PPOR is in both mine and my wifes name. Her income would never support buying my share (tied in with the IP loan). It is possible that my income may allow buying her 50% share next year, certainly keeping that one in mind. Are you certain (ofcoarse Im seeing an accountant...

Our current IP, which will soon be our PPOR also has a mortgage on it. Im certain that refinancing does not remove contamination I dont think the ATO would like this argument :D

Thanks Prop and Rugrat. I certainly feel that the positives of holding & renting outweigh the selling advantages. Given the current market then I should at minimum hold out for a while. Its better than average condition for the area should allow for higher capital growth too. We can...

Good Morning SS readers/contributors I have an ongoing predicament for which I see two options. Have mentioned this before, but never detailed it. Ill lay out some facts for you, bare with me if you choose. I’m not necessarily after criticism as I realise this isn’t ideal, however when I...