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Thanks very much, I'll give these a read.

So my mind has been whirring since the auctions the other night, scheming and dreaming away. I was wondering if I could ask some questions of those that have used this strategy before (buy existing place then put on a granny flat). How does one go about financing the construction of a...

Ah I just figured they'd remove it straight away to save the hassle. I'll keep that in mind ;-). Appreciate your advice on the areas, I'm trying to do something about the music but life is a washing machine on spin cycle at the moment!

Went to the R&W Mt Druitt auctions last night, not bidding yet but went to get an idea of what it was like if I ever chose to go there as a bidder. There was probably 50-60 people in the room, hard to say how many were bidding. There was 8 places up for sale, lowest price of 208k and highest...

http://www.realestate.com.au/property-house-nsw-tregear-106303780 Do you think that the garage/workshop in this place is too close to the house to be viable as a granny flat?

Bah Humbug! I'll bulldoze the fence, raze the houses and tear out all the trees. I'll make a 2000m2 slab and drop a 10 storey apartment complex! Bwahahaha... :D And back in the real world, I'll get right on that research. Houses belong to Blacktown City Council: Zoning = 2(a) Residential...

Something I saw which interests me, may interest you guys as well. Two properties, side by side, both with considerable land parcels (Approx 1000m2): 28 Paull - Listed as going to Auction. 30 Paull - I requested a price from the agent for this one, he stated 350-375k. Google Maps View...

An addition to the thread: My car doesn't have A/C so driving in this heat can be pretty unpleasant and I avoid it when possible. nearmap.com is like googlemaps but with higher resolution, meaning I can see if the next door neighbours yard is full of junk and burnt out cars etc. Only thing...

She's a fixer upper... http://www.realestate.com.au/property-house-nsw-whalan-106702376 Can't wait till when I can finally start looking with the intention to buy. For now, scheming and dreaming will have to suffice.

If they are being sold as owner occupier, does that mean that there is a clause in the purchasing contract that I must live in the property for a designated amount of time before I'm able to rent it?

Further to the discussion surrounding 2770 and nearby areas: I've been doing more browsing of the web and have come across a few properties listed that interest me a bit. I'll probably compile a small list of addresses and go for a drive tonight to have a squiz. The properties listed below...

Thanks Peter, I had a bit of a discussion with Dad last night who advised against this. His simple answer was "Why be greedy? Why not wait until you can do it right... Minimise your risk." I swear, these older people just might know a thing or two after all! :p :D

As a follow up to anyone interested, I drove past 23 Pangari (the first property I linked to) at 2pm this afternoon to have a bit of a squiz. It's about a 400-500m walk from a shopping complex so that's a plus and the street it's in is filled with neat and tidy houses (all lawns look fairly...

I'll have a drive by tomorrow during the day (though people may be more prone to being a little loose, being NYE and all). I appreciate all your help skater, let me know if you ever need furniture moved or soil shovelled! (All the skills I possess... for now).

Wow, $300pw ay? That does seem like a better deal, easier start to the process anyhow with less capital required. When you say a thorough checking out of the area do you mean surrounding streets? I.e. this street might be quiet but it backs on to a pub or a noisy / scummy looking street.

Another similar property, this one looks neat and tidy though the decor within is a bit dated. Has a detached garage again which looks quite spacious. I may have to do a bit of driving tonight past these properties to get an idea...

Also, Though it's early days yet can anyone recommend a good mortgage broker in the Western Sydney area? I figure if they get a good review from Somersoft they will more than satisfy my needs haha.

I do *sort of* (I'm more white collar construction, though have done labouring) have the skills but I'd want to use them sparingly... Full time Uni + Close to full time work =/= Time poor AND Money poor haha. With regards to getting a general idea of some basic criteria for a successful...

If I was to do my due diligence on this property, what sort of figures / things should I be looking at? Obviously driving by, assessing the street and surrounding neighbours is one of the first things I'd do. Beyond that, where do I start?

I work in the building trade and have a few mates that also do. I believe I could provide some limited facilities at a fairly minimal cost to myself. Would have to check whether or not this was possible (council restrictions, actually viewing the property and structure of the garage etc.)