澳洲Australia property How can I maximise 1 year rent free | Syd


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


Hi All,

From December, I will be living rent-free for 12 months house sitting for my parents - I want to maximise the opportunity.

My IP1 generates about $400/mth in positive cashflow. Value: 550k, owes 289k (LVR 52% / ~150k accessible equity). My income is 80k.

When my parents return, I'll need a PPoR to live in (Newcastle area). Ideally something run-down in a strong growth suburb where I can add value through reno. Ideal budget 250-350k max.

Option 1
--------
- Buy a run-down PPoR ASAP.
- Commence renovation ASAP (using tradesmen to do the majority).
- Aim to complete work within 6 months and get it back on the market.
- Alternative/bonus approach would be a subdivision..
- Sell to realise profit and roll into next PPoR purchase just in time before parents get back. This way I have used the 12mths to "create equity" etc.
- My fear here is borrowing up and then trying to offload in a cooling market and not making any profit.

Option 2
--------
- Buy another IP using *some* of the equity.
- Leave sufficient equity as the deposit for the PPoR later in the year.
- This means 3 properties in total and leaving me more exposed to the expected interest rate rises and no more safe/comfy 52% LVR.

Option 3
--------
- Do nothing, wait for the market to cool further.
- Buy the PPoR just in time before the parents get back.
- Gradually commence reno work etc while living in it.



Any suggestions or advice appreciated..
(I am favouring Option 1, but please tell me what you think).

Cheers  

评论
Dunno :)

But for the moment make sure you stick all your savings into the attached offset of your Interest Only Loan

ta
rolf  

评论
I suppose your a winner whatever option your gonna go with. As Rolf says pile up ur savings in an offset account though.

We are in a very similar situation except we have a PPOR that we are renting out for a year. We plan to save one of our wages and load up an offset account. :)

Have fun!  

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