Because the property we are selling is unencumbered that is helping. It is more that they think we cannot service the debt afterwards. All the other investment loans pay for themselves but for some reason they think our salary needs to be able to cobver them.
Good to know Michael. What sort of time frame are you looking at. We have actually placed an offer that is being considered (verbal and no money involved). So we are looking to do things quickly now.
Thanks ivrage. My concern with this way is how often would be deemed sufficient to get the cleaner in. Would tenants then not do anything such as check chlorine levels. Would they then say it was our fault if someone got an ear infection or something?
Does anyone else have experience with pools & tenants?
I would assume I would have to wait unti it was available for rent before I could start claiming a deduction for interest. I am OK with that as it is not a huge amount. I wil also get a depreciation schedule done then.
Thanks duckster but I really object to paying big excesses – especially if you have to pay several for the one tenant. I have been looking on the net but none seem to be great.
Thanks for all the ideas. Terry – We can't really handle the repayments that way like Marc said. And Mark, with teenagers who aren't totally on board with the move, we have to keep things stable so renting is not the way for us. Now Richard your idea sounds interesting. Do we see an accountant or solicitor about setting up trusts? Any good people in either Sydney or Melbourne you would recommend? Are there any pitfalls we should be aware of and is it al OK with the ATO?
