The very first thing you should do before you start is to think about what you're trying to achieve and then work out a plan to get you there.Let me give you an example.I bought my first house last year. There were 3 things I wanted to achieve:1) my own home to live in (no more renting or living with family)2) passive cash flow (to increase my i…[Read more]

Thanks Anthony K, your post pretty much sums up what I was intending from the outset, none of this managed investment scheme nonsense.

@Kent     Hmm, I have private messages enabled, not sure why you can't send me anything. My email is Raydenhead@hotmail.com, message me there.@Qlds007   I never said anything about "not declaring income and pocketing the cash". If my friend Bob and I want to start buying houses together, I don't think we need a licence for that…

I may be in Sydney next year, but for now I am in Perth, and I'd like to meet and discuss with potential investment partners preferrably on a regular basis. This may be difficult with interstate people.As for the licence thing, I'm sure 2 people buying maybe a couple of houses per year would fly under the radar.

Ring the ATO, they may be able to answer your question without charging you a fee.