Ownership % with partner

Discussion in 'Investment Strategy' started by ThaRealJaySnell, 4th Jul, 2019.

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  1. ThaRealJaySnell

    ThaRealJaySnell Well-Known Member

    Joined:
    3rd Jun, 2019
    Posts:
    65
    Location:
    Melbourne
    So ive been doing some research on investment strategies and curious to if i have found a loop hole or not.

    We are selling the property we live in now to move closer to where our familes are, In the beginning we were going to purchase a potential sub division to reno the front and develop the back but my mind continues to think of other possibilities to make sure we are taking the right step moving forward.

    I work in the industry so please refrain from "selling the family home and to develop is wrong, or you have no experience"

    My other thought that has just crossed my mind is to rent in the location we want to live and to look at villas or units in sought after holiday/tourist destinations and rent via Air BnB.

    This would mean that i would be borrowing the same around (Around 520k), but be able to purchase two properties. Essentially paying off the debt twice as fast with a chance quicker due to accommodation costing more than rental.

    My question is that i am still at university so have a concession card that exempts myself of stamp duty up to 350k.
    If i purchase with my partner are we able to manipulate the percentages so we dont pay stamp duty and are both on the loan for borrowing capacity purposes?

    Before the next question of ownership if it were to go south and all that, we have both understand that if something were to go wrong that it is half of everything due to her higher wage at the moment and myself being able to get savings from stamp duty and other avenues. We are happy and have no concerns with that.

    Thoughts would be greatly appreciated
     
  2. Trainee

    Trainee Well-Known Member

    Joined:
    24th May, 2017
    Posts:
    10,327
    Location:
    Australia
    While the rent on airbnb might be higher, you have to rent. Also giving up the ppor exemption which you would partially get if you subdivide ppor?
     
    Archaon likes this.