IP - Unit Tweed Heads NSW

Iam new to IP as a strategy and would appreciate any comments/feedback/advice on the following;
I have looked at a unit in a multi storey developement in Tweed Heads and consider the developement has future capitol growth potential.
The unit will be manged by on site managers and will have a mix of holiday/and semi permanent tennants (risky, I know) has/does any one else invest in this type pf property? I have done the figures and can sustain rent/interest/mortgage gaps and hopefully build equity for future purchases.

I have/will use a depreciation company and try to minimise tax etc.

My question in this area is - should I use an offset account and contribute/pay off a portion of the loan quicker to gain equity? or just let the rental income ane exspenses work out for say 12 months and see how I go?

Appreciate your thoughts/advice.

New starter!!
 
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Welcome to the forum Ian :)
I have done the figures and can sustain rent/interest/mortgage gaps and hopefully build equity for future purchases.
I think this is the most important part.. that you have crunched the numbers, assessed the risk, have a buffer and perhaps have a plan/exit stratergy.. My only concern is that you've noted that tenant pool is risky, and that you may be mixing business with pleasure.. I'd love a holiday unit on the Tweed too :p

My question in this area is - should I use an offset account and contribute/pay off a portion of the loan quicker to gain equity? or just let the rental income ane exspenses work out for say 12 months and see how I go?
I'd suggest reading Ozperp's latest blog, as it talks about this.
 
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