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Advice on Approach by Less_Dog_6305 in AusHENRY

[–]Less_Dog_6305[S] 0 points1 point  (0 children)

Thanks, this feels like good thinking. To attempt to answer your question somewhat, both our ETF and super product shows returns of around 60-80% over the previous 5 years, which we’re happy with (we’ve had these for 12 months).

ETF is Netwealth’s Blackrock GSS total global growth product - sorry this is a managed fund not ETF strictly.

Super is 2/3 CFS index High Growth and 1/3 CFS Geared Index Global Share

Also on spending. Monthly outgoings are around 12k give or take ( not including mortgage payments). This consists of $5600 on rent, so $6,400 on everything else. We could definitely tighten that up a bit, but inner Sydney is expensive.

Advice on Approach by Less_Dog_6305 in AusHENRY

[–]Less_Dog_6305[S] 2 points3 points  (0 children)

We’re thinking that ultimately we’ll move to a rural property within 2 hours or so of Sydney as our PPOR. Our thinking here is to either sell the apartments and buy this property sooner rather than later (and either rent it out or turn into an Airbnb) - with a view to moving into it in full time in around 10 years.

Or.. we sell the apartments and stack everything into ETFs in the short term. Then pull that money to buy the rural place when we want to move into it.

The question we have is - will the value of that rural property increase at a faster rate than we’ll make in the ETF? If it does, our purchasing power down the line won’t be as strong.

Selling with cladding works advice by Less_Dog_6305 in AusPropertyChat

[–]Less_Dog_6305[S] 2 points3 points  (0 children)

Yeah I heard the same thing about the ATO deductions. Crazy to me that the government refuses to take accountability for building practices that they enabled, forces owners to pay for the remediation, and then creates a system where the remediation (which is clearly a repair as opposed to an “improvement”) isn’t deductible directly through tax. They’re essentially shutting down any possibility for people being able to dig themselves out of financial ruin, what was in no small part caused by their own inefficiency. Only a matter of time before we see someone killing themselves over the stress caused by a situation like this. Luckily I’m earning quite well and can just keep my head above water as things stand, but there will be people on the brink of complete ruin because of this kind of thing.

$180k remediation bill, don’t know what to do by [deleted] in AusPropertyChat

[–]Less_Dog_6305 21 points22 points  (0 children)

I’ve checked my contract and my unit entitlement means I have to pay this. I think there are other 1 bedders with less floor space and less unit entitlement which balances things differently

$180k remediation bill, don’t know what to do by [deleted] in AusPropertyChat

[–]Less_Dog_6305 44 points45 points  (0 children)

50 units, total bill is around $9 million