How many plane trips I need to buy interstate?

[see_change]

So is it common/possible to say put in offers 'subject to inspection' on multiple properties and then spend a weekend going through them all? So you do the negotiating before even viewing the property?

We haven't done it on multiple properties . After a while you get a pretty good idea on what you want .

We've only done it when we something that we want and we can't get there for a few days . In the case of the property I mentioned , it seemed cheap so we wanted to lock it in . Obviously there was a reason why it was cheap and we needed to see it as the add on the internet wasn't exactly truthful .....It was with an agent we didn't know.

Cliff

 

[Rixter]

Back to tax deductibility of trips. I understand trip not td when hunting, and is td once you own, what about when unconditional on contract?

Not TD when unconditional either.

If purchasing in own name, it is my understanding that the costs of one's trip to purchase is tax deductible against the profit for CGT calculation, when you do eventually sell.

 

[devank]

1. Pay someone you trust to inspect for you.
2. Have a long chat with your building inspector. They will tell you lot more than what they put in writing.
3. Get a different RE agent to give you the rental estimate as well as required improvements and potential costs.

 

[FelixL]

Thanks everyone for the great advice, I have just settled on the first IP in Logan area!

The total plane trips so far.... 0

Having a fast scanner seem to be much more important...

Planning to buy a few more properties up there this year and likely need to fly there a few times to inspect. Its quite limiting without ability to inspect though

 

[TMNT]

Congrats, care to share the link or figures?

Logan I heard is pretty hot!!!