After doing more sums last night till midnight I think I will hold on for the time being and see what happens. Thanks for reading

I am with CGU and find them very good

I have some sort of filing system…I have a big folder with everything in regarding to the contracts and bank statements and real estate statement it’s just the receipts and stuff from when I did my renovations that I can’t find half of…will just have to keep digging away I guess

Thanks for all the input

what if I don’t have all my receipts…my filling system is not the best and I have stuff everywhere relating to my IP. Is there stuff you can claim for where you don’t need to provide a receipts like a set amount and you can’t go higher than that unless you have receipts…..??

Thanks

Hi Blondie

I bought my first IP and I got the FHOG but only lived in the place for about 5 Months, just make sure you have bills going there and you change your license and electoral roll and you should be right.

I would not tuch them with a 400km pole…just from the stuff I have heard and read….

That was the first time I went to one of his things just coz it was free…and I got a don’t sign anything hat…lol. He told some shocking stories about dodgy agents and stuff like that so I learned something there but….

sounds a bit suspect……I would be very careful

so the best will prob be to just leave it as it is and get a bigger tax return…thanks for the comments

yack I am on a pretty low income so it will prob make sence for me to get that sort of thing going for me. When you say stuff up your calculations what are you revering to there

I will prob go to the pub and buy my mates a drink and celebrate something…hopefully a new IP

Hi NEWGEN
Stories like this makes me sick and we don’t need low life scum bags…….well you have done well in securing your first place. The hard work and stressed paid off and you will see that things can only go better from now on. Keep up the good work

Cornel

wow I have my first tenants moving in on Friday but I think my pm is pretty good…but I am very nervous now after hearing all these stories….

Hi I have learned through my experience’s that if you don’t succeed with the banks or with a broker move on and try the next one till you are happy. I have found a really good one and he is helping me heaps
Good luck with it

Cornel

It’s prob not true though….but I will be keeping a close eye on that for if it does become true….just though I would see if anyone has heard anything about this or not??

Well nothing will be coming in from the property until it’s renovated and that will take prob all year for me to do…do a bit every weekend. But I guess we will need to find out and sit down and talk to see if this will be a quick buy and fix up or buy and hold deal. Anyway….this storm we had in Brisbane was just crazy 10 Min ago…trees on road crazy

Hi SIS…well dad’s got enough cash to pay for the place cash…so we can have a quick settlement and maybe get the place for a lot cheaper….that’s the plan anyway. Then I will move into the place as my house doing the renos etc then renting it out after a year or maybe sell the place for a good profit. I think we will prob want the house in…[Read more]

Okay cool thanks SIS….does this means that we have to create a trust or not? or is all this stuff just things you fill out on the bank forms?

Cornel

Hi Bron

I am in Brisbane as well and I have been using a guy in the Valley for my general work tax…..now that I have a investment property I have to find a proper Investment Accountant to help me claim back as much as I can. I have learnt all sorts of this thing from this funny post, just all the things I can claim back and how people team…[Read more]

I support your comments SIS, and I will be doing the same when I get more properties use the tax system to my advantage.
What a fun topic this was to read….like a bunch of kids around a ice-cream cake—-[][] no offence