Hi Mike,
Thanks for that, our conveyencer did point this out and after discussing this with our accountant he explained that if we were buying in Queensland the Bare Trust would have to be set up before signing contracts. Here in Victoria it can be set up later.

We stil have a lot to learn. Interesting reading all the tips and advice in this…[Read more]

Hi Richard

Thank you for the advice. Unfortunately we have already put a deposit down so I guess we will learn from our mistakes. Fortunately there is still enough in my super to purchase another investment property, so the next one we will seek advise and do much more research before we begin.

Regards Ron