Thanks for the webinar it was great but i have a few questions and i don’t know if it is already posted here some where else.
What is the tax on the 76k given it was a gross amount.
If the net profit was say 50k and you had to split it 50% because you had a partner (David) was it worth it for 4.5 months work and effort.
The purchaser who added value on paper by increasing the renting yeild, on paper has made a profit. But given this property is in a country town what is the likely hood of some one paying 500k in that town and it being very negative geared, that this property would sell at that level.
To me for an average person to attempt this with out accounting or a property trading back ground would be very risky.
Now as far as getting lucky and given that a small out lay was only used the ROI was great.
resiwealth
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