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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….
Well you won’t be getting heaps of capital gains on the place. There might also be a pool fund and you don’t have 100% control of the place. I heard that if you want to be in total control of your investments don’t go for the retirement village idea….just my 2 cents
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
you must get a pretty big refund if you can do that…I don’t know how it works so maybe you can explain to me..is it mainly to help with repayments the extra money or what is the main idea 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 workCornel
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 itCornel
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 both our names but he will need more control coz he will be putting in all the money and I will just transfer the money I am putting into the deal into his account. So there won’t be any loans or anything like that. I am just thinking from the legal side and ownership side of things….how to structure the deal with him.
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