Forumates,
I have a negatively geared property portfolio and am thinking over my options if ( been in IT, I probably should say "when" ) my income shrinks to the level that would cause servicability problems.
One of the IPs is a Sydney unit which is provided to relatives free of charge. (If the taxman reads it - please note this is not a real situation). Does any deal structure exist that would allow me to sell the unit paying off the loan, but keep the relatives there for a year (and pay the rent)? I was thinking of selling the unit with a guaranteed rentback for 12 months. Is it hard to achieve comparing to a standard sale?
Say cheese
,
Lotana
I have a negatively geared property portfolio and am thinking over my options if ( been in IT, I probably should say "when" ) my income shrinks to the level that would cause servicability problems.
One of the IPs is a Sydney unit which is provided to relatives free of charge. (If the taxman reads it - please note this is not a real situation). Does any deal structure exist that would allow me to sell the unit paying off the loan, but keep the relatives there for a year (and pay the rent)? I was thinking of selling the unit with a guaranteed rentback for 12 months. Is it hard to achieve comparing to a standard sale?
Say cheese
Lotana