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Turning PPOR into investment property

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Sarah | 05 Jul 2015, 08:32 PM Agree 0
My husband and I currently own and live in an apartment in Melbourne. As I am pregnant, we are looking to upgrade to a larger place. We are trying to weigh up whether to sell the apartment and rent a larger property or turn ours into an investment property and rent another property - hopefully to receive some tax benefits.
We purchased it for $380,000 in 2012. Currently owe approx $350,000. Could rent it out for approx $350 per week. Looking to rent a larger property for around $400 per week.
Please let me know your thoughts. Thanks in advance.
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