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  • Profile photo of my65roses2my65roses2
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    @my65roses2
    Join Date: 2003
    Post Count: 5
    October 8, 2003 - 4:29 am

    Hi Troy,

    No that is not true. I have known many people who have purchased a house and lived in it for 6-12 months and then rented it out. Once it becomes rented it becomes an IP. Your PPOR is exactly that, the primary place you reside.

    Hope this helps [8)]

    Profile photo of my65roses2my65roses2
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    @my65roses2
    Join Date: 2003
    Post Count: 5
    October 8, 2003 - 1:41 am

    Hi Steve,
    Sorry I haven’t got back to you as I have not been on the forums for a few days.
    I am in SE Qld, and I have found someone who helps people do wraps. Here is an email addy if you want to contact them. [email protected]
    Their office is in Brisbane but they deal with properties all over QLD.

    Hope this helps [;)]

    Quote:
    Hi my65roses

    We are considering the same thing – wraps that is, to start off with. You make a good point with being able to divorce yourself from all the ongoings assoicated with a rental.

    Have you found anybody to get you started in that area? Also where are you from?

    Cheers
    Steve

    Profile photo of my65roses2my65roses2
    Member
    @my65roses2
    Join Date: 2003
    Post Count: 5
    October 2, 2003 - 1:55 am

    Hi Bear,

    We are in the smae position. As we are using our equity in the family home to finance the 20% deposit, anything close to +ve becomes -ve.
    We are considering trying a wrap deal to start with as you don’t have any ongoing costs such as rates, insurance etc, and the profits will be saved for a deposit on a rental. This is what we are thinking anyway.
    Does anyone else have any suggestions for people like us who are using equity and trying to get +ve cashflow?

    Cheers.

    Profile photo of my65roses2my65roses2
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    @my65roses2
    Join Date: 2003
    Post Count: 5
    September 27, 2003 - 9:33 am

    Thanks for your advice Tas, Bill & Cobra.

    I took your advice, contacted the agent and told them that we had reconsidered. The agent was ok about it as she still hadn’t done up a contract as yet. SO all is well again. PHEW!!!
    DOn’t worry we aren’t giving up, but are a bit more wise about doing our sums.

    THanks again for your help. [:D]

    Profile photo of my65roses2my65roses2
    Member
    @my65roses2
    Join Date: 2003
    Post Count: 5
    September 15, 2003 - 11:28 am

    Thanks Patricia, [:D]

    I do want a PM to manage the property once it is tenanted, as we live too far away to keep check on it. But I was interested on how to find the good tenants in the first place. I have heard that PM’s sometimes just put any Tom, Dick or Harry in a house without much diligence at all.
    We want to avoid any problems. Will PM’s let you check on prospective tenants and have the final say as to who it is rented too?[:D]

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