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Some great information being shared here!
I have a question for you about the positioning of the annexed unit. Does the block need to have front and rear access for this strategy to be viable or can the annexed unit at the rear of the existing house be accessible by installing a long driveway up the side of the section? If so this would mean that the tenants living in the rear annexed unit would be driving/walking past the front unit to access their unit?
I have a link here to a property which is a good example of what I mean : http://www.realestate.com.au/property-house-qld-edens+landing-114287151
Let me know your thoughts.
Thanks, Lyndon
Thanks Jamie,
That article has clarified things nicely. I will be getting my partner to read it when she arrives home.
Thanks again
Thanks for the reply and advice Jamie.
In regard to question 3 I was meaning if we pay principal and interest off the loan and over time the rental income exceeds the repayments, we will be taxed on the profitable rental income? If the loan is kept as interest only would we purely be relying on the price increase of the house to make any profit as capital gain?
I guess I want to know if it would be better to aim to have the property positively geared in the future and have a rental income + capital…or have it interest only with an offset account and only profit if the house price increases?
Sorry I am an amattuer at this game
