Hi Risky,

Not a lawyer, but as I understand it, once you sign the contract you are liable, therefore you need insurance straight away. Check with your lawyer, but if the other party agrees to the contract you could be up for the repairs, unless their helpfull and kind?

Chriso

Hi Murmur,

You probably know this…basically you get taxed on your income from the property; and after deductions hopefully your assesable income is lowered and you are left with a profit (+ geared). If not, you get a tax refund from other sources…eg. job (- geared). And you probable know as well…that your profit is added to other sources…[Read more]

Yeah, I’ve heard of Tassie once or twice (: Even seen it on some maps!!

Hi Mikeej,

A good website is http://www.chrisbatten.com.au on who’s name etc. for IP’s. I’ve quickly copied and pasted this from his site just now – hope it helps.

Quote from Chrisbatton.com.au;
“The majority of rental property acquisitions occur in the name of individuals. Despite the large number of disadvantages that this type of structure attracts…[Read more]

Thanks Westan, That link must be the one I’ve heard about – thanks for the advice. I have read your comments on mildura, and am glad to hear that such strategy does actually work (:

Chriso

That makes sense. Is it common practise or is it just something mentioned in the books?

Sorry Billy, I was off searching for properties!! Found a few that I have asked further details about – I’m sure I’ll need some info and ideas soon though.

Regards Chriso [8D]

That’s a great answer, Bill. To newcomers such insights are valuable – keep them comin! []