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122 | Q&A – A Transitioning Market, Money, Habits, Tax Deductions and What It’s Really Costing You

It’s that time again… a few questions from you and a few answers from the boys!

But before we get into today’s episode… just a huge shout out for being SO supportive about our technical glitch last week. Our inbox was flooded with all of your emails and concerns—please know that our hearts burst (with love) and we missed you all too! We really did. But we’re back and better than ever this week. (With an epic guest next Thursday, we’ve got The Stig running the server like a pro.)

Right, moving on to today’s Q&A! It’s the time of a transitioning market so things are starting to balance out in the property scene. The boys will fill you in on the nitty gritty, but guess what? This is an empowering time for buyers!

Think Question. Think Answer. Think Golf. (Blame Bryce for his legendary metaphors.)

 

  • Question on Debt Reduction from Allen:

I am trying to get into a better money management system and have just a few questions. I currently have one personal loan of $22,000 and two credit cards – both roughly $5,000 each. In your previous podcasts about credit card management and the MoneySMARTS system, you suggest paying off whichever debt charges the most interest first. Well, the personal loan charges more than the credit cards in the long run and has more to pay off. Although the credit cards are of smaller amount, it is still high. Which would you recommend paying off first?

  • Question on How to Work out a Property’s True Value from Laura:

When monitoring an existing investment property’s capital growth, and trying to do this in an objective, non-biased and reliable method, can you please compare and contrast just relying on a real estate agent’s sales appraisal versus a proper bank valuation?

My wife and I bought a house (PPOR) in Croydon (VIC) 2.5 years ago, which has since appreciated by nearly 20%. We are looking at buying our first investment property this year, around mid-year. We had a child last year; my wife will be going back to work part time mid-year and is currently on maternity & LSL. My salary will be about $100k more than hers.

Will it make sense to get the investment loan out in my name so that the losses can be claimed against my greater income? For some reason she is apprehensive about this idea, which I’m not sure why because we are married anyway and the titles can still be put in both our names even though the finance is in my name. Is this worth considering or should everything just be in both our names; joint loans and the like?

 

And here are the Free Resources mentioned in today’s podcast:

 

If you enjoyed this Q&A episode, don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: https://thepropertycouch.com.au/topics/

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