Oh god, I think that place was still there when I was in Byron just before xmas. Drunken backpackers with cockney accents walking towards there. No fanks missus!
You were practically locals, what was their problem?
With a big enough deposit any property could be positively geared, not at 95-100% though.
JB must've done Daddy a significant favour at some point to return it in that way - I'm sure it was all above board :confused:
You could consider using the equity to buy somewhere else and then rent out your current place. Research converting the loan to interest only, and claiming those strata costs.
It's good you have all the additional funds in the offset so you can pull it out to use elsewhere.
You'll need to do some research on past performance, and how each suburb has performed recently. Plenty of Brisbane suburbs have seen significant growth already. If you find one that hasn't got to its previous peak, probably a good sign. Way ahead of the previous peak - how much does it have...
Giving reasons for a lower offer is Ok, eg if there are repairs needed like a fence is obviously falling over or front stairs unsafe. Though they may have already factored it into the price.
It depends what the market is doing. If there are plenty of other buyers you might be wasting your time...
They're all very different suburbs with different demographics and price entry points. The cost of a mansion in Woodridge might get you a slum in Sunnybank.