Sorry if this an invalid idea, but…

Could you create a Trust and transfer the house to the trust, whereby you would then lease the property from the trust using a rental, or rent-to-buy, or lease option?

An idea, although I’m sure the Tax dept has a way of making this inappropriate.

Paul.

Thanks to everyone for their replies.

This is what I am currently doing: I have selected an area within the City I live (a very large area), and I have been researching the rental prices and the property sales for the last six months. But of course this doesn’t help me when I suddenly find a very interesting possible property.

So what I try to…[Read more]

I just spoke to my accountant about the education expenses, and he said that technically you can’t claim unless you show they are used to bring in income. So if you don’t have an IP now then you can’t claim for them.

But he also said that you could factor them into the costs of buying your first property….

As for the other expenses, I’m not…[Read more]

Hi,

I was under the impression (although my accountant hasn’t confirmed this), that all education expenses are tax deductable as long as you purchase at least one IP before the end of financial year in which you occur the expense.

Does anyone have any definates on this? Steve (being the great accountant you are), any ideas?

Thanks.
Paul

Thanks AD, but I was more looking at the situation where you come across a property and you need to quickly decide whether or not to spend time/money looking at it as a possible IP. (i.e. How do you determine Rental levels for this area, how do you determine Approximate Market Value for the area, etc).

I understand the usage of a Home Price…[Read more]

The B,

Everyone whom I get advice from (i.e. established investors) always state that my first offer should always be at 20% less than market value.

What is your general feeling toward that?

Obviously I am concerned with alienating the Real Estate Agents, i.e. they think I’m a low baller … But with most of the properties I can find, they…[Read more]

Hiya,

I’ve recently spent over $1k researching this topic with some senior taxation accountants at BDO in Adelaide. To be honest, it was money wasted because there was nothing that I learn’t which I didn’t really know (except that it takes an accountant $500 and three days to write up a simple transcript of a 1 hour meeting).

Anyway, I want to…[Read more]