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Thankyou Terryw :)

Initially when we bought the property we had it rented out because we were first home buyers and wanted to get some more funds together, back then my partner was on very low income and I was working 7 days a week to get through! We made the mistake, I think, of not getting a valuation done when...

Having equity in the offset account sounds like a good idea, the only way to contaminate this would be to use it for something other then the purpose of investing or repair on the current IP???

So who would be the best person to go and see, we have a accountant locally here that we have used for tax time and he seems to know alot about the property side of things or should the mortgage broker be able to determine how we should go about this. Can one suggest a good broker in Sydney...

Thanks MrMonopoly. So next, once the rental stuff is organised, what should I be looking at doing next. I know that we will be changing the loan to IO, so for that one we will get our mortgage broker out to sort it for us. Next we have to make sure we get a depreciation report done on the...

So after all the pondering on what everyone has said, I have bit the bullet and at least been smart enough to take on the advice. Initially, before posting this thread, we had already signed a contract to sell the property through a real estate and had the Contract for Sale being processed - I...

I see exactly what you guys are saying - and I am happy for the persistance, at the moment i am waiting for the real estate to get here so they can give it a rental appraisal. I got one over the phone of $450, but want someone to inspect it to give me an accurate figure. What I need is help...

Ok, so we have sat back and had more of a think about our situation. Now I know there are plenty of reasons for and against for what we plan on doing, but as someone else has mentioned - you have to do what you think is right. Although, everyones comments so far have been great food for thought...

Thankyou everyone for the replies! I will post up some more information as requested first. Both my partner and I are on 50k pa, with only having one car which is currently under a personal loan but other than that we don't owe money on a credit card. At the moment we are paying P&I at 6.7% I...

Hi Everyone, Well it's been almost a year since i have actually been on here, quite disappointing really. Was hoping to have IP no.1 + 2 by now but to no avail. I'm sure I could try and come up with a million reasons but that's not the point of this thread. Basically, my partner and I are...