And yes if I move in it after settlement for 12 months it’s seen as my ppor and I prove this then I can sell in 6 years without CGT but Thats not part of my plan at all

I’m not telling the ato anything I’m applying for first home owners grant because I’m eligible just because I purchase a investment property dosnt mean I can’t change my mind and decide to live in it hence why I can grant and stamp duty reduction.

Thanks terry I’ll do that

And Richard in terms of your question I can’t service the loan hence using investment loan to increase borrowing capacity and once ive settled I’m moving into it and applying for first home owners grant

He’s got around 120k available as a redraw can he access those funds even though he’s used that in congonjuction with the value of the property as security after the loan is settled?

Because if yes I will give him 20k so it increases his equity and I will not contribute anything to the house

I don’t really know how else to explain it,

I can’t afford to service the loan myself so we are going with an investment loan and using a Garentor because 20k isn’t enough for the deposit.
This property will eventually be an investment property after I live in it for a year so a 100% loan would be ideal and bring the lvr down using property growth eventually removing my dad as Garentor

Apparently there’s isn’t enough equity

At this state we are completely seperate no joint accounts addresses are seperate. We both live with our parents. So we should be fine in that sense we are located in Melbourne.
If I went on the loan then yes we are ineligible

I’ve talked to many brokers just needing some direction from experienced members

We were told to do and investment loan and take the money from the parents to pay the higher deposit then apply for the first home owners grant after 11 months and live with her parents till then Which again I don’t really want to do I don’t want to bring up a baby in the parents house.
I could just move into one of my investment properties once…[Read more]

Wow I don’t know what to say please don’t apologise I’m shocked at how much time you have taken to give me some advise. What I have found in this industry is there are not many people willing to give advise without some angle but you seem to be the very few that is genuine thank you so much I’m happy to take advise and learn from people such as…[Read more]

Thank you so much for taking the time to respond

Firstly I must add I have tried my best to research as much as possible before making decisions.

I have been looking at sunshine for a while and also I work in the area so I have been seeing first hand the infrastructure and growth taking place it’s close to the cbd being just 10 mins away has…[Read more]

It was more for piece of mind but I’m open to the idea depending on how good the broker is