Hi All,
I have desperately been trying to find properties in Victoria that are consistent with the methods in Steve McKnight books but have been unable to find any as yet.
I would be interested to talk to anyone who has purchased properties in Victoria that have repayments on their mortgages which are less then the rental received from their tenants.
In particular, I am after information on locations, how they found the properties, and where is a good place to start as my current searching methods are not working.
Any assistance would be greatly appreciated.
I wish you good luck with that, I personally have gone off the idea. I would rather pay more and chase the high capital growth. Good Luck
You may need to shift your thinking towards CASHFLOW POSITIVE AFTER TAX.
This is still very do-able even now.
One of the criteria is that the property must be built after 1987 so it is eligible for the "special building write-off".
Basically, this means that you can depreciate the entire building, fixtures and fittings against your personal income tax.
It is an "on-paper' deduction, so there is no money from your pocket at all to get this deduction. Free money essentially, courtesy of Lapdance Kev.
This is the only type of property we buy, and along with the ability to "add value" through renos and/or subdivision, and purchased in growth ares, the investment is a winner.
There also needs to be a decent rent return as well.
For full details on this strategy, read all the Margagret Lomas books.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
