We have a one bedroom unit bought about 8 years ago as an investment. also last year we purchased a land with a fibro cottage on it with the intention of demolishing and building a duplex on it. We are getting a good rental for the fibro cottage but however the out of pocket expense is quite significant (but this is tax deductible) We want to buy more and build a portfolio or later sell at a profit and reduce our debt. Can the savy members advise me what is the best way to go about. Whatever the credit approval we have go at the moment is for the duplex to be build which will take all up about a year. We are looking at buying without too much out of pocket expenses. Instead of depending on our own salaries for the approval of credit could we set up a company for property investing. We also have an existing company which is our active business and wondering if it would be a better option to buy through this company. Thanks for any input.
Best regards
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