Got my first IP today!

My first IP now has a 'sold' sticker out the front... our first offer of $372,000 (on signed contract with 5% deposit cheque) was accepted today. We also bought our PPOR from this agent and I like her alot

The IP is an approved dual occupancy, 3 bedroom house with bedsit (they share one wall but are really quite private) in Higgins, ACT. Rent appraisal is $500 a week ($320 for house and $180 bedsit) but I think I could get an extra $20-30 per week on the house.

Mortgage will be $560 per week so it will be negatively geared to the tune of $120 per week.

For those who like a sticky beak: http://allhomes.com.au/c/ah?a=sp&p=295631

Congratulations- well done.

Are you going to change your nick now?

I should have changed it when I got my PPOR last year... but I don't know how

Congrats ThirdHomeLooker ... not first any more
Excellent buy..nearly 7% Rental Yield

Onya FHL. Looks like you're racking 'em up now.

We went down that same track using the same agent. Bit of a tip - if you ever decide to sell, don't use her as your agent.

Congratulations! I see many more coming your way.

Well done FHL, looks like a good one.

Always good to hear positive stories for first IP acquisitions, as well as the constructive comments that you all make on this valuable resource!