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  • Profile photo of mynameismikemynameismike
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    @mynameismike
    Join Date: 2012
    Post Count: 4
    February 13, 2015 - 1:07 am

    That’s true D.T, I’m in Melbourne’s outer east. Seeing as I want to buy, renovate and sell, I’m looking to buy locally so obviously I can be nearby to do the renovation and still work etc. Down the track when I’ve built up some equity I’ll consider my options regarding interstate and the like. Thanks

    Profile photo of mynameismikemynameismike
    Participant
    @mynameismike
    Join Date: 2012
    Post Count: 4
    February 12, 2015 - 11:39 pm

    Thanks everyone for the help so far. Saw an accountant today who seems to know his stuff, has a bunch of investment properties himself. Initially it looks like I’ll be buying my first house under my own name, live in it for a couple of months as my PPOR, then renovate and sell- as doing it this way means I don’t pay any CGT on the profit. I guess however that means I can’t claim the costs associated with the reno on tax because it’s not classed as an investment, but paying no CGT should outweigh the tax savings anyway.

    Profile photo of mynameismikemynameismike
    Participant
    @mynameismike
    Join Date: 2012
    Post Count: 4
    February 11, 2015 - 11:28 am

    Thanks!

    I’m seeing a guy tomorrow who apparently has 11 investment properties.. So I’m on the right track hopefully!

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