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Thanks Paul,
I appreciate the referral. I'll give him a call and see if Tom is able to help in this instance.
Regards,
Martin
I guess I did do that a bit backwards… [upsidedown]
Thanks for all the feeback. I found the info about the FHOG http://www.firsthome.gov.au/
Regarding making this a win-win deal, I think even at around $120/wk above expected rent it is very attractive for someone looking to get into the market in this area, especially if the sale is at or even slightly below market value, interest is at bank rates and the deposit is minimal.
Given that this deal is most likely to attract first home owners and possibly investors looking for NG IP with growth potential, what do you think is an appropriate deposit to ask for?
BTW, I have learned heaps through browsing the forums. I can’t wait until I have a bit of experience so that I can contribute more to this great pool of knowledge, rather than just asking questions.
Thanks for the feedback, I may need to rethink my strategy a bit, particularly WRT financing.
One question though:
Why not wrap it to someone else and use their FHOG and save your for another day?Is it possible to buy a property and wrap it and still save the FHOG for another property? I thought it was only available on the first property, hence the name.
I can also see how this deal may not be attractive to someone who just wants to rent, but for someone who looking to enter the market, this may still be quite attractive. It may even be attractive to another PI who wants to negative gear the property as the property is in a high growth area, quickly growing population.
Anyway thanks again. I still have a bit more time to figure out the best strategy, it may be best to flip, or even bear the load NG, there is pleny of time.
Regards,
Martin
