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Hi
Looking for suggestions. My situation – PPOR valued at $140+k 95k mortgage 2br strata unit i would get aprox 140-150 / mnth.
I am looking at buying an IP that needs renovations my question is i have a mate who i live with now and we would move in for 2-6 months renovate and then rent out. My mate is a carpenter so labour is no issue. Would it be best for me to have a ‘rental agreement’ so that i can claim renovations, even though i will be living there myself.
My unit that i have now i would just rent out.
I dont intend on selling due to CGT but rent out and maybe move onto another IP.
Any sugestions would be greatly apreciated.
Thanks
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