A young meetup sounds great but in reality it may be the blind leading the blind.

Do you want to hang with the guys or learn about property investing? 

 Surely its better to meet with other investors (regardless of age) with like minded goals. I have been to meetups where some people haven't bought yet and others have multiple properties and years of investing experience. There are many experienced investors who are very generous with their time and expertise. Why through that away because they aren't 26? 

Doesnt make sense to me. Disclaimer-  I'm more than double 26. 

Hi you can't use the 6 year rule in your situation. In order to qualify to use the 6 year rule you have to have lived in it from settlement. So it won't make any difference whether you move into it then rent it. But you can claim one as your PPOR so you will avoid land tax. 

If you rent out your existing PPOR though (assuming you moved into it when you bought it) you can take advantage of the 6 year rule on that property.

Hi, a few questions.

 What are your long term goals? 

Why would you rent? Can you rent for more cheaply than you can in your PPOR? If so that can save money. 

You need to crunch some numbers with each option. 

If you want to build a portfolio, selling at the beginning may not be the best option. BUT it depends on the property. Can you get enough equity out to buy again? If you rent elsewhere will this allow you to save more deposit? 

Where are you located? Buyers agents can help but be careful of those that actually have properties to sell. There may be a conflict of interest.

if you are considering renting out the PPOR change to an interest only loan so you have the excess to invest again. Get an offset to park extra money. If you plan to sell, it's not so critical.  Speak to a good mortgage broker for loan set ups as mistakes in the beginning can put a halt on your investing in the future. 

Cheers. 

You are liable for the rent until the lease expires (so 12 months). The RE agent should advertise for a new tenant (at the same rent) and you pay until the new tenant moves in. They can also charge you advertising and change over costs.

You still claim it as your PPOR if you are not intending to buy another place to live in during that time.  Important to make sure your accountant knows about the 6yr rule if you sell. If they are not property savvy they may not.

Hi.

If you move in straight away you can after that move out for a period of 6 years and rent it without paying CGT. It's commonly called the 6yr rule (look it up).

The proviso is that you don't buy another property and claim that as your principal place of residence (PPOR).

If you rent it first then move in and then back out again you can't use this rule so it's important that you move in FIRST. There is no stipulation about the time you need to stay there but enough so that it looks like your intention of the purchase was to live in it.

If you can't move in to it, it is still your PPOR (if you don't buy another PPOR) and you won't pay CGT is you don't rent it. If you do you pay CGT on the portion of time you rented it. Eg if you own it for 10 years and rent it for 5 you'll pay CGT on half the CG.

If you buy it as tenants in common her share automatically goes to you.  ASSUMING your siblings don't contest it.  She can say it in her will that she leaves it to you. But still a risk. What are the siblings like?

We don't have inheritance tax in Australia (ATM).

Why do you want to put it in half your mum's name? This will also affect her pension (if she's on one). Will she be living in it? If so and you don't charge her market rent you will have problems trying to claim tax losses.

Yes you will pay CGT. If your mum lives in it, not on her half for that time I think (check with an accountant).

Personally I don't think it's a good idea.

Sydney is definitely hot at the moment.

People ARE paying more than valuations. But having said that it does take a while for valuation companies to come up to speed. On a whole though I wouldn't say Sydney is overpriced. We have been due for some decent growth.

I believe interest rates will be low for a while but they can't stay low. THIS is when it gets interesting. If it's true that new time investors are buying we may see some correction when some can no longer hold onto properties. When interest rates go from 5% to 8% in a short time it will hurt the unprepared. On a $300,000 property interest will go from $15,000 to $24,000pa. Not many people budget for having $173 less per week.

You don't have to as far as legalities go. I had one tenant ask and I changed one but said they'd have to pay for the other. It had a security screen so they didn't worry.

Depending on what types of locks you have though you could buy a new tumbler set and change them. Keep the existing ones and if you need to change them again or in another property you have them.

Hi do you mean you had 3 inspections? You are only allowed 4 a year. Sounds like overkill to me.

Sounds like a terrible property with landlords and an agent that don't care. Did you not notice the problems before you moved in? I'm a bit wary when people make promises to fix things after you've signed. If they intended to fix them they would have before being offered for rent.

I hate to say it but be prepared to fight tooth and nail for your bond back. Hope you have documented everything. Take photos to back your case. And when you do go to court turn the tables on them and ask for compensation.

SO annoying. Unfortunately there are bad landlords and tenants. Luckily this is not the norm. I consider myself very lucky to only have had exceptional tenants. But then I give them a clean, tidy house and fix any issues promptly.

Hope everything works out for you and you have better luck next time.