New member here, all ready had some great advice in my first thread & hoping for the same here.
2 years ago I bought my first investment property for 560k (old 3x1 house on 460m2 in Como W.A), complete with good paying tenants.
I was/am still paying off our PPOR, but have 50% equity.
What I am thinking of doing is selling our PPOR, and using that cash to pretty much pay off the IP and get a new loan for a brand new house on the IP land to be our new PPOR.
or should/can I keep paying the IP mortgage & use the cash to demolish/build a new house on the IP land.
* I have never lived in the IP ( i dont know if that matters)
*what about CGT in this scenario??
thanks!
2 years ago I bought my first investment property for 560k (old 3x1 house on 460m2 in Como W.A), complete with good paying tenants.
I was/am still paying off our PPOR, but have 50% equity.
What I am thinking of doing is selling our PPOR, and using that cash to pretty much pay off the IP and get a new loan for a brand new house on the IP land to be our new PPOR.
or should/can I keep paying the IP mortgage & use the cash to demolish/build a new house on the IP land.
* I have never lived in the IP ( i dont know if that matters)
*what about CGT in this scenario??
thanks!
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