Hi all, I am about to purchase a new house. My first port of call will be to gain preapproval using a broker and raising the FHB grant in which I am entitled to. The property I am looking at can be subdivded into two blocks one with a post war home in which will need around $15,000 spent to bring it back to life. I should be able to purchase the property around $230,000. I was reading that when I start to purchase more properties I should have a family trust setup and borrow against my wages to finance any future properties. If this is the case would it be wiser to forgo the first home buyers and setup a trust and go about it as described and have the deeds in the trust name?? ready to be subdivided. Im really stuck with this as even if I dont purchase this property I still want to set myself up correctly at the start, so I dont have to pay all sorts of fees etc to change my investing structure later. any suggestions………
OH I forgot, I will have to raise 100% finance due to medical reasons using all of my savings. I am 28…. check my new sites that i am about to launch queenslandcarsales.com.au
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