It's a house.

Thanks, I've PM'ed you.

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

Thanks Jamie,

I've used the spreadsheet and it looks as though there would be little difference to the end result even if I added an extra $50 a week to the rent.

I'm thinking about buying a property for $265k

Weekly rent would be $320.00

Deposit would be 10% or $26,500. However, even if I put a 20% deposit it doesn't look like the situation would differ much. 

With a 10% deposit it would be negative $44 per week and with a positive it would be $88 per week. 

It this all right? Could you please confirm… 

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?

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