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    Buying second IP seeking advice on locale and loan structure

    Thanks to all for comments Still don't know or understand much (if anything) re second loan. I will see a broker soon re same. I believe we use the equity in first loan for deposit for second loan? First is IO with offset, second would be IO also? Any tips appreciated Avs the reason we...
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    Buying second IP seeking advice on locale and loan structure

    Thanks hugh72 for the reality check :-) I believe you are right in relation to insurance and BC fees reducing the yield. I think it was mainly the lure of a cheap buy that I saw. So back to the drawing board on the topic of locale I quess! The more I read the more I find including...
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    Buying second IP seeking advice on locale and loan structure

    Albanga, Thanks for the comment. In regard to strategy- your probably right i more than likely do need to 'refine' same. As prev stated it is early days- we have a few goals (short and longer term which are to accumulate multiple property's and hold them for long term growth for retirement...
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    Buying second IP seeking advice on locale and loan structure

    Thanks kinnon bell for that advice. I agree on the land issue re Melton. Any other suggestions re locale? Re: unit in cairns purchase- reason was that research I have done seems to indicate cairns market (along with most touristy areas of qld) will recover, and also affordability- we...
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    Buying second IP seeking advice on locale and loan structure

    My partner and I recently bought our first IP in Margate (Redcliffe area) north of Brisbane. It's 2bdrm house that we purchased for $310 mortgage of $280 and are renting for $300per week. We have some some minor renos including bathroom, kitchen tiling and new fittings, removed a wall, new...
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