Talk to us at Make$ Cents first before signing any agreement for sale and purchase as we can advise you on the best ownership vehicle to maximise the benefits, and do the sums for you so you know what it will cost both in the short and long term. Get a complete property valuation done including chattels – we recommend ValueIt so contact us for their details. This could be very important bearing in mind the “talked” about changes to the claiming of depreciation on rental properties.
Do your homework –
- how much will you need to borrow?
- will your bank lend you the money?
- where will you find the tenants?
- will you use a property manager?
- does it need work and money spent on it before renting it out?
- will you have to prop it up every week and by how much?
- how much are the rates and insurance?
Remember, first step is to talk to us. We are here to help.
The information in this article was current at 02 Dec 2011