- This topic has 0 replies, 1 voice, and was last updated 9 years, 7 months ago by Anonymous.
- August 29, 2011 at 10:09 am #368053AnonymousInactive
Can you buy investment property while still renting?
I am wanting to purchase my first positive income investment property (in another state) but am still renting. I would be using equity from my parent’s property portfolio for the deposit.
Is there a ‘catch’ (tax-wise) in doing it this way? I have read books on property investment but they all assume one owns their own home already.
Actually chats… I would have to disagree with you there….. having a portfolio of investment properties in several states and areas is a very good idea investment/tax-wise…
There is a set strategy (the 20 must ask questions) to buying positive income property so that you can guarantee you will get more money back on tax that the property cost you and you can calculate it all before you even buy the property.
Most property investers focus on negative gearing, but this doesn’t guarantee a positive income!
PS. I’m in Australia, not USA…
You are right about the loan interest rates yeah, plus I would miss out on the first home owners grant so yeah I might be better off buying a live-in property first – only haver to live in for a year anyway then could rent it out…
- You must be logged in to reply to this topic.