Before buying a Negative Gear property would it be a smart idea to speak with an accountant first?
MatI’ll be the first (and quite possibly the last) to state the obvious… Yes. You might not find too many friends in the forum who’ll encourage negative gearing, but it would difinately pay to see you accountant, and get them to explain the benefits you will entitled to recieve as part of setting up a negatively geared property.
… In addition, make sure your accountant has property themselves. There are three types of account: One would deals in shares, one who deals in property, or the third if you can find them, one who sees the need to diversify, and deals in both (thanks so much Skye [biggrin]…!).
Hi Mat
I’d definitely agree with Daniel. If you are going to talk with an accountant about this, make sure the accountant has a few of his/her own investment properies.
I’d also recommend that you have a read of: https://www.propertyinvesting.com/strategies/buyandhold.html
And for $25, I’d suggest you pick up a small, easy to read book called How To Legally Reduce Your Tax.
Good luck.
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540Talk to us about Wrap Training Joint Ventures.
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
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