Hi all
Question number 1. can anyone recommend a property and tax accountant in newcastle that i can see face to face that will help structure my plan?
My plan
I have just purchased house it is IMO in one of the best streets in Newcastle on a corner block. there a many options i can build two brand new houses, renovate the old house, build granny flats etc.
I Want to renovate the old house and it will be my PPOR.
i owe 450k on the mortage and i want to spend the next two years working away and hopefully pay around 2500k a week into an offset account.
maybe down the track i will want to sell it but not for ten years at least.
im looking to get advice if i should rent the house out properly through a real estate for the next two years or i keep the smallest room and rent two rooms out for cash and use that money for renos?.
the other question is i have a double garage and i was going to build a wall down the middle to store or the buliding materials i will be getting over the next two years for the renos (my dads a builder). would the real estate have a problem if i was renting my house out but still able to access one half of the garage?
Question number 1. can anyone recommend a property and tax accountant in newcastle that i can see face to face that will help structure my plan?
My plan
I have just purchased house it is IMO in one of the best streets in Newcastle on a corner block. there a many options i can build two brand new houses, renovate the old house, build granny flats etc.
I Want to renovate the old house and it will be my PPOR.
i owe 450k on the mortage and i want to spend the next two years working away and hopefully pay around 2500k a week into an offset account.
maybe down the track i will want to sell it but not for ten years at least.
im looking to get advice if i should rent the house out properly through a real estate for the next two years or i keep the smallest room and rent two rooms out for cash and use that money for renos?.
the other question is i have a double garage and i was going to build a wall down the middle to store or the buliding materials i will be getting over the next two years for the renos (my dads a builder). would the real estate have a problem if i was renting my house out but still able to access one half of the garage?