Thanks Derek, that sounds plausible – I was wondering if maybe they do it as their only source of income – therefore, would it all be classed as income rather than CGT?? Or is it something more complicated involving companies and trusts and juggling the profits somehow?
NolaO

Hi Bob

This is only my second post and I am new at this also, but if I were you I would consider the multiplication by division rule and look for two +ve cf properties priced around the $100 – 150K mark – once you pay a 20% deposit and closing costs for both you should still have a bank of around 20-30K to maybe do a few cosmetic upgrades which…[Read more]