Does the accountant need to be in Albury, or will any accountant from NSW do? Also are all properties in Albury or are some on the Wodonga (Vic) side of the fence?

I have seen rentvesting work particularly well when you rent in a share house with 3-4 others. Had a number of friends do this to get their first IP. If you’re splitting a nice place in an (expensive) inner city location with a few others, and buy a property elsewhere to lease out the numbers often add up nicely.

However not sure if it works as well when you’re buying an investment property and paying 100% rent elsewhere as well – that is a fully loaded risk profile and a lot of money going out the door each month. Might be better to just take the hit and move out to where you can afford to live.

Question for everyone else though – if you eventually move into the property you purchased as an investment, can you theoretically never pay the capital gains tax, or do you have to claim a taxable event when you switch it over to an owner-occupier residence? Maybe someone here might know the answer to that. It might be a decent way to get into a property while renting – set it up as an IP, get the tax deductions for a few years while sharing your rent and living expenses are minimal, and then switch over to a owner occupier loan and not pay the CGT until you sell it (which may be never if it becomes the family home).

If there is clearly a “Greed Button” being pushed by the seller then buyer beware!

That is great advice!

• This reply was modified 8 years, 1 month ago by  Brett M.

Looks like we’ve got a mystery to solve Scoob