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I think this is possible, he mentioned something similar. We are looking to get land ASAP though given we've just sold, we don't want the market to increase too much before we buy again. However, if we don't get the land in time for our settlement we will discuss the trust account idea...

They don't HAVE to. But the bank is willing to keep our current loan open and then 'top it up' with our new land/building loan. If we don't have settlement on the same day then our sale proceeds go into a bank trust account, the loan is closed and a new one open= LMI and opening fees charged.

Thanks for all your advice! I think you're right. 15k in the scheme of things is little. If we got one of the other blocks in the area, we would be looking at major cut and fill and/or bringing services up the driveway. Whilst we have 90 days to 'wait' for something else to pop up, we also don't...

pinkboy, We did that 2 weeks ago, response was '375k, not negotiable'. handyandy, a previous interested party asked about this possibility according to the realo and it was knocked back.

We are looking at 5 subdivided blocks in East Melb to build on for our PPOR. Two of the blocks are 400m2 the other three are 350m2 (and one has an inactive easement in it). We are interested in one of the larger ones however our builder has had a look and can give us a design for any of the...

Great advice, will ask the broker about this. Was tempted to fix rate recently due to lows. Might wait till the 'predicted' pre Xmas drop. Thanks so much for your advise!

No bad investments (touch wood). We are struggling a little bit with cash flow but no other debts. If we change it to IO we will save $200/month plus the tax benefits

Thanks Chris, that exactly what we have looked into this week. Waiting for another mortgage broker to get back to us about refinancing options. Thanks!!

JacM- yes I moved it over yesterday actually, I was initially reluctant because I thought if it's in our everyday offset account we'll be tempted to use it. But we did a budget and we now have a little more control. Unfortunately looking at the past 2 years in detail we have had a loss of...

JacM- yes we do. It's 2yrs old- $168000 building cost Capital works deduction: $3066 and depreciating assets: $3513

Holy crap. I didn't expect to find all this when I logged on! Thank you so much for taking the time to reply! It has eased my mind so much! In reply to some comments Holidays: Reading my post back, it does sound a little shallow. The idea behind it is- A while ago my partner and I had a talk...

Firstly, thank you to about 300 forum members who have helped me research over the last 18 months. You've saved me time, money and stress. I have spent a lot of time reading different techniques when it comes to property investment and I think I've got myself into a bit of an overanalysis rut...

Thanks for all the replies, they really do help. Had a chat to the broker...and he has suggested similar things. At the moment we are looking at a brand new 102sq metre 1 b/r, double storey apartment in Ringwood (small building) for 350k Plan would be to have it as PPOR for 4-5 years then go...

Hey there, Im 22 and the partner and I are looking to buy our first property in inner/ eastern Melbourne. There are so many options and everyone is rushing to give me their advice on the situation. It getting to the point where everyones 'knowledge' is contradicting and Im at a loss of what to...