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Awesome, thanks for the detail response and the link to the Guarantee. Have used BMT twice in the past and both instances have worked out well.

Hey guys, While we're on the subject of depreciation reports, I purchased a 2 bedroom unit, built circa 1973 late last year. The place could do with a renovation - I think last renovations were done about 10 years ago which includes kitchen and paint. Is there any benefit to getting a...

Thanks for the replies, all. Hmm... tough choices to make. Cabramatta units do appear to be a safer investment option - there also appears to be some major redevelopments happening as well in the Dutton Lane carpark to build more shops - which signifies to me that CBD growth is on the...

Hi guys, Looking to purchase another IP, planning to buy something that I can do a makeover, renovate and hold long term. I am deciding between a 2 bedroom unit in Cabramatta NSW, very close to the Cabramatta CBD or a 3 bedroom house in Minto NSW. I am generally conservative, but I would...

There's no T in Minto... https://www.youtube.com/watch?v=O0dnVNDkaJo

Hi All, Does anyone have recommendations of someone who can do a building inspection for an off-the-plan (OTP) property in Sydney? Have a property in the Homebush/Auburn area that is about to settle but would like them not only to find any defects but also check to see if it's built in...

Hi, Thanks for the replies and clarification. OK, seems quite clear what can and cannot be done. My current loan structures seems to be the most optimal as it can be for now. I've got offsets all setup and I'm now awaiting for the completion of the OTP. Thanks and have a great new year!

Hi all, Current situation: Property 1 - Is an OTP and will be our PPOR when completed by March - Will be opting to get an IO loan with offset attached. - Will rent out this property in 7-10, years time when we eventually move to a bigger home as our family expands - The loan on property 1 will...

Thanks for that Marty. Just referring to the document http://www.osr.nsw.gov.au/lib/doc/factsheets/ofs_nhg1.pdf It mentions: "Applications must be received within three months of the date of the first execution of the agreement or of the transfer (where there is no agreement)." What...

Those are for off the plan. There is about one or two existing properties going for over $618k. http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2010228800 Check the sold sections on domain or realestate.com.au for the past sale figures.

Have you considered looking at the Botanica estate in Lidcombe? 3 bedroom Townhouse/torrens title going for around $600-$630k.

Hi all, Was reading up on the NSW new home grant scheme. http://www.osr.nsw.gov.au/legislation/budget/2012/grant/ Just a bit confused with the wording in the grant conditions. Say you are purchasing an off the plan unit and have just exchanged contracts but settlement won't be till...

Have you considered Auburn? It's a lot closer to the city, has well connected infrastructure and rental demand is good. It will definitely be units though in your price range, not houses. You can pick a fixer-upper 2 bedroom apartment starting from around $240-260k in the current market.

Ever thought of purchasing a property where there has been some kind of unnatural death involved? http://www.squarefoot.com.hk/haunted/ According to this article, you can pick up property at heavily discounted prices. It may work out well for non-superstitious tenants/owners.

Nice work JWR. Didn't know you could use that technique as leverage to seal the deal. I guess it pays to ask plenty of questions beforehand in order to get as much background on the vendor's history and current situation, then see what you can do from there in the negotiation phase. ;)

Thanks for the quick response Aaron. It's being sold by the vendor, and not as a mortgagee in possession, so that's a positive. Will definitely take on board the issues regarding body corp and their need to collect unpaid levies. That'll be a matter to discuss with the solicitor. Cheers...

Hi all, Still a relatively new investor, so please bear with me :) I would like to know if there is huge risks in purchasing a property at a bargain price because the vendors are desperate to sell? I'm currently looking at a property, where the vendor has over $7K of overdue payments...

Hi Rolf, Ahh, of course. Purchase price of IP is $320k. Currently owing $285k. No offset account attached to the loan but redraw is available. I've put down a 10% deposit of my own savings to make this purchase.

Hey Guys, There's heaps of talk on the this forum about how to fund the purchase of IPs. However, I've just recently purchased my very first property which is an IP under my name but would like to buy a PPOR within the next 1-2 years. What would be the best strategy to achieve this...

Thanks for the quick responses. No we are not in a defacto relationship. We both live with our parents and all bills are under individual names (not joint). We will live together when married. I wouldn't want to risk getting an unwelcome fine in the future. The other thing I can think...