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On the 5th of December we had settlement on our first IP. Thanks to this everyone on this board for lots of information and 3rd party encouragement. With rates on the way down ATM, this might be easier than we thought...:cool:

After many false starts, with vendors wanting more that we were comfortable with, we have had an offer accepted.:eek: Offer - 170k Loan - 180k (inc costs) It's on a 12 month lease, with 11 months to go, at 250pw. Would that be a gross yield of over 7%? We are planning to use one variable loan...

Ok, almost ready to start the IP ball rolling. We have our PPR which we bought 10/2006 for $250,000 with $215,000 currently owing as fixed rate until 10/08. Domain.com lists the trend at 8.8%, so if I understand this we should have about $30,000 in equity. The Plan: IP offer of $110,000...