Quote:
Originally Posted by BENT_8
I wasnt suggesting that you were against it, i was just confirming that it has been setup in the correct manner so that she is free to claim the subsidy via rent assistance because it is an investment property and treated as such in the eyes of the tax dept on his behalf.
Im sure he would have an accountant who would be advising him of how best to make it work for them.
The best part of it is that he is able to sleep at night knowing that his investment property is free of the pitfalls that many investors face in terms of the continual cycle of tennants coming and going whilst avoiding the risks of damage to the property which he can visist at anytime he likes to keep on top of any maintenance issues.
From her perspective, her relatively small investment in the deal has provided her with hassle free accommodation partially funded by the Government, no risks associated with living in a strangers investment property, no agents keeping an eye on her and the balance from the sale of her property 15yrs ago is collecting interest and available if/when she needs it.
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Nah, it's all good. It's a good strategy, ties in with benefits and taking advantage of the economics of the time.
The traditional save a deposit then try and get a loan isn't cutting it nowadays, so people need to think outside the square.
Getting family onboard isn't always 100% risk free, as you can't control what will happen in the future, but the thing is if you want to get ahead in life,
you always have to take risks, can't get around that one.