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    Buying unit from Brother...

    Hi All, I have a few questions. I am considering purchasing a 2BR unit in NSW that my older brother is considering selling - He is selling to finance another venture. My questions are: 1. Is there any way of transferring ownership without incurring stamp duty and other taxes? Possibly via...
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    What's to know about Duplex's?

    Hi all, As many already know I' am currently searching for a second IP... I have been looking at a duplex purchase. I am only looking to buy 1 of the 2 units in the development. It is a standard 'side-by-side' standard dev. What laws are there to ensure both owners maintain their...
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    Reason for not using funds for deposit?

    All, I am considering buying a 2nd IP. I will be using equity on IP1 as a deposit. I also have the required $12000 in cash savings for Legal/Govt costs. I have contacted my bank and they advised that as the property being purchased is an investment I would be better off borrowing the full...
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    Am I ready for Second IP?

    Hi all, I would like your opinions if you think I am ready/able to purchase my 2nd IP... Details: IP1 valued at ~$210000 - currently owe $95000. Looking at IP2 for ~$250000. Have pre-approval for $300000 using 20% deposit from IP1 equity. Monthly repayments for the 3 loans would be a...
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    Is this too high for strata costs?

    Hi all, I am looking at a 2br unit for sale in a complex of 4 units. The strata fees are $450 p/quarter, and council rates are approximately $600 per year. Is this too much to pay to strata? My current IP I own is $330 p/quarter. What questions should I be asking as to why it is this...
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    Is this deal any good?

    Hi all, I am looking at purchasing my second IP. I would like some comments on a property I am considering. The purchase price is $315000, but I would like to only buy for ~$295000. I have pre approval for the loan, using a deposit of $72000 for 20% deposit and purchase costs - using...
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    Whats my best option?

    Hi all, Just thought I would post to ask what my best option is at present & also perhaps confirm if my current plan is ok... Situation: * I own 1 IP at present. Paid: $190000. Currently owe: $95000. * Paying P&I making double the required repayments. * Currently have $10000 in a...
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    Actual cost to own/operate IP?

    Hi, I am looking at purchasing a 2nd rental property soon. I have only had my first property for 18months and don't really know how to work out what it is actually costing me a week. Things are financially under control but I want to know the weekly cost after tax breaks I will get etc... I...
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