I'm looking at flipping for profit – that's the strategy. Since writing the question I have found a lot of material online so thanks again people for your contribution.

Best regards,

Sam Barry

It's a house.

If I could run all the numbers by someone that would be appreciated. 

Cheers all,

Sam

Thanks, I've PM'ed you.

Thanks Terry, I'm gonna call my broker & accountant after the holiday to see what position I would be in. 

Thanks guys! My next question is.: Let's say the spreadsheet say's that the property is going to cost me about $80 per week. Would tax benefits cover this to make it neutrally geared? Do people rely on tax for an IP to be positive or neutrally geared?

Happy Easter to all,

Sam

Shahin, do you mean input the total price of property as well as deposit? Or the full loan amount. For example, loan amount $270k and 30k deposit? 

Jamie, could you recommend a link to a webpage that I could use to start learning how to crunch the numbers? I need help using numbers to know if an IP will be positive cashflow or neutral cashflow. If you know a page which contains all the formulas please let me know.

Cheers,

Sam

Thanks guys! That being said, that would also mean if you funded the deposit yourself you could instantly refinance and tap into the equity to purchase another IP?

Cheers for the feedback. 

Hey Jamie,

The thing is I don't own anything else. So for the time I'd be living in it & working with people to do it up it would in fact be my primary residence. I think flipping it would be the monetary bonus.

It's good to know that it's totally CGT exempt. 

Cheers,

Sam

Thanks. Yes, it does help.

I attended the 1-day free event and I ended up signing up. I haven't yet received the DVD's though.

Dymphna is really good at selling the dream of being financially independent. However, Steve McKnight really hits you with a all the facts needed.

I haven't been to the bootcamp so I can't really say if she's for real. A week after signing up I…[Read more]

I attended the 1-day free event and I ended up signing up. I haven't yet received the DVD's though.

Dymphna is really good at selling the dream of being financially independent. However, Steve McKnight really hits you with a all the facts needed.

I haven't been to the bootcamp so I can't really say if she's for real. A week after signing up I…[Read more]