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Hi Dave, I don't believe any recent (last 4 years) works has been done. But the apartments appear to be in good, well maintained condition from my visits there. I know it varies from a complex to complex, but what is a healthy sinking fund amount for one this size and age? Re: admin fund...

Hi guys, I have received the results from a strata report regarding a 2br apartment in Sydney's inner west built in the 1960's Small block of 13 apartments (no lifts, pools, gym etc) going to auction soon. Levies are $500 per quarter Sinking fund $13,000.00 Admin fund $500.00...

Thanks Puntercollect, much appreciated. My main interest was to understand what other buyers were doing to secure property so quickly. I wish I was a cash buyer! its finance for me

Hi Aaron, If you were buying, what are some of the conditions you must have before you sign? Interested to know what others are doing cheers

Good point. I think we are just going to have to bite the bullet and sign up, pay up and hope the reports come back OK. Costly exercise if it doesn't work out but at least we have a shot at securing the property.... happy days if you own property that's all I can say!

Thanks for the advice. I guess that is just how it is in Sydney these days... With the way Sydney is at the moment, even threatening to pull out of the deal if we found issues with the property won't make a difference. Vendor will probably let the buyer walk, keep the deposit and get another...

With the housing market so competitive, I hear a lot of people are signing the contract of sale to secure the property first, then conducting building/pest/strata checks afterwards. I understand people don't want to get gazumped, but a 0.25% deposit can be a lot of money and also risky in my...

Thanks guys, I'll go and do further research on some of your suggestions and get talking to a mortgage broker. cheers

sorry one more question re: option2, is it worthwhile to park our savings in the Offset attached to the IP I/O loan? from my understanding, it's only worthwhile to park large savings in an offset attached to PPOR loans. or is 'what to do with the savings' more of a mortage broker/financial...

Is there any particular product or strategy that we should follow to free up the equity? is this what they call cross collateralization (use one property to secure another) what are the risks?

Thanks for the quick reply. Rented 6months (after purchase) Owner occupied 3.5years Rented again 3years From what I've read, I think I will have to pay captial gains tax if I sell. Yes in hindsight I should have gone with an IO+Offset for IP1. Lesson learnt!

Was recently introduced to this site and it has been a great and informative read. Hoping to get some advice with our situation below.... Main objective is to move out of the inlaws place (:D) and find a place of our own for the next 3-5years, whilst trying to keep as much personal savings as...