Hi,
I am an avid reader on this forum and must compliment on the quality of information. Thanks to everyone participating on the forum. I have just finalized my first IP and have a few questions :
1. The seller wants a settlement date of 6-8 weeks and i want a settlement of 4 weeks time, which he has agreed to. However, he wants to rent the property back. Would it be a good idea to rent it back to the seller or get the possession, do some work on it (Its a timber frame house and needs some work) ? This way I might be able to increase the rent of the property.
2. Should I look at a shorter settlement, say before June 30th and put him as a tenant. Will i be able to claim tax benefits in this FY ?
3. Can anyone suggest me any good PMs in Adelaide ?
Thanks for your responses in advance.
Cheers
I am an avid reader on this forum and must compliment on the quality of information. Thanks to everyone participating on the forum. I have just finalized my first IP and have a few questions :
1. The seller wants a settlement date of 6-8 weeks and i want a settlement of 4 weeks time, which he has agreed to. However, he wants to rent the property back. Would it be a good idea to rent it back to the seller or get the possession, do some work on it (Its a timber frame house and needs some work) ? This way I might be able to increase the rent of the property.
2. Should I look at a shorter settlement, say before June 30th and put him as a tenant. Will i be able to claim tax benefits in this FY ?
3. Can anyone suggest me any good PMs in Adelaide ?
Thanks for your responses in advance.
Cheers