Hi All,
We have finally settled on our very first IP, it is very exciting but daunting also
We currently have a PPOR which we have used some equity for the new IP and I was wondering where do people have their rent paid into? Apologies if this is in the wrong section or a silly question, but I am awaiting to meet up with the accountant and am required to fill in details on the real estate "owner instruction" form. We have an offset account with out PPOR which I was thinking we could have it paid into or should I set up another transaction account for the I only whereby income and expenses come out from?
Again, sorry for the silly question, I have tried searching for an answer, but may not have correctly used the search function.
Thanks again.
We have finally settled on our very first IP, it is very exciting but daunting also
We currently have a PPOR which we have used some equity for the new IP and I was wondering where do people have their rent paid into? Apologies if this is in the wrong section or a silly question, but I am awaiting to meet up with the accountant and am required to fill in details on the real estate "owner instruction" form. We have an offset account with out PPOR which I was thinking we could have it paid into or should I set up another transaction account for the I only whereby income and expenses come out from?
Again, sorry for the silly question, I have tried searching for an answer, but may not have correctly used the search function.
Thanks again.