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Thanks for all the responses. My goals are in this market to stick at 80% LVR and be as neutrally as geared until the property market gets going and I can be a little more risky. IMO no point in losing big $$$ each year if there will be little capital gain to be made. Rolf Latham - I have...

Looking at my second IP and currently have a 'pro pack' loan with St. George $395/pa with all the bells and whistles. Everything I read seems to say do not cross-collateralise! My situation: 1. IP 1 Loan amount $246k - Value $400k 2. Budget IP 2 - $550k purchase price I want to...

Lots to consider - thanks for the replies. In response to the replies. gfreer - I am going into business to make profit, I do not want to lose money however you have to start somewhere, even if its small. I do have an IP, looking at my next IP however I'm thinking to purchase land & build...

I wish to purchase land with the purpose of building duplexes. I understand that I need to apply for DA, however what are the basics of knowing that a piece of land 'can' have multiple dwellings? - How do I find out what the area is zoned for? - Do I need minimum sized blocks/frontages...

I've got my head around the basics of purchasing, owning, financing, maintaining an investment property as well as the tax implications. This learning process was due to reading several books: - 7 Steps to Wealth - More Wealth from Residential Property - This forum - Actually doing...

A close friend wants to rent my property. How do I obtain these forms? Previously my PM submitted Bond forms etc. I'm not quite sure what the procedure is from here.

Thanks for your feedback. I'm aware of my two 'normal' options. However I'm a engineer and the project has increased in scope and time which is yet to be determined (maybe an extra 6 months). Just wondering if there is a way to get an extension for when I return home. It looks as though...

Hi Everyone, I signed the contract for my first property in March 09 and settled in late May 09. I intended to move in for 6 months and rent elsewhere so I can push on and buy another property as soon as possible. In April 09 I got sent interstate for work which was due to finish...

There will be a metro-link in the works, for those who don't know, London/Paris/Hong Kong styled trains connecting Olympic Park with Sydney CBD and Parramatta CBD.

It is on the West side. The property however is not facing Centenary drive so there is zero noise both from my balcony and inside my apartment. All things being considered, I don't plan on selling within 10 years, if not longer who knows. The way I see it, the area is 7kms to Parramatta CBD...

FYI I settled in May 2009. 4 Years old. 2 bed, 2 Bath, 1 Car, Total 107m2. Paid $315k. Rent $420/w. Identical Units (on same floor, with same floor plan) Advertised for $349k. I'd say they'd be worth $330k max. October 2008 I could have gotten the same thing for $300k ish. Not saying it is...

Exactly my thoughts. Thanks guys. Cheers.

Background My main account (Salary, eftpos etc) is a commonwealth bank account. My IP account is a St. George account (credit card, offset account, mortgage account). My rent goes straight into my offset account, monthly. Currently my home loan comes out monthly out of this said offset...

Cheers - again that doesn't bother me. As long as its not alarm bells as I thought properties that are 4 years old shouldn't be in the red! It's one thing reading this forum and books etc... another thing doing it all... so far it has been an educational experience :)

Thanks for the prompt reply :) Do you have thoughts on this statement (from my first post) ? "Problem is there is only $17.8k in 'sinking fund' and the administration bill is overdrawn by $6.5k." Should there be more in the sinking fund? and is $6.5k overdrawn way too much? I've been...

Thanks for the reply. I meant $23.8k on the whole block of units, which would equal to about $458 for me. $458 doesn't bother me so much, it’s paying it every year (they have similar special levy’s in 2007 and 2008 and also the fact admin fund is in deficit. At the annual general...

I'm at the final stages of buying my first property. I've had my offer accepted, holding deposit down and have 6 working days till my cooling period runs out with finance pre-approved. I just sat down with my solicitor, contract looks ok with some clarifications that need to be made...

Nps it would be best to see an accountant about all this - I guess I was just doing my cashflow forecast and getting a good idea of what to expect come tax time. Cheers, Luke

Thanks for your prompt replies, much appreciated - I have so many questions to ask! Found a QS on this forum. Will be contacting this person soon. Also need to find a good accountant, last few years been doing my tax on my own as my returns so far have been pretty simple. I understand what...

Woops - edited for clarity "So for the first few months this property will be classed as an investment property then OO (for 6months) then back to an IP and hence standard negative gearing applies I believe."