Finding deals.

From: Adrian See


Hello friends

I am a new player to the game and this is my first post. I am primarily interested in Sydney areas ranging from the city out towards Southern Highlands to Blue Mountains to Newcastle.

My question for those who have one or more IP's is where or how did you find good deals. For those who saw properties advertised and bought through RE agents, how much of a discount off asking price have you been able to achieve? For those who did secure good discounts, please specify some details such as dwelling type, asking price, initial offer, any other specific details which would affect the sale.

I don't own any property and I'm currently purchasing my 1st IP now which will settle in about 6 weeks when construction is complete. It is a 2 bed apartment in Botany. I will get the $14000 fhog since it is new and I seriously do intend to live in it foe a few months. After that I'll rent it out. I should be sweet in this situation but a post I read in the archives just now worried me. The I'm getting is an investment loan so I could get picked up for this. Do you think the OSR will check details such as this? My only real defense would be to say that an investment loan was the only way to get that amount of finance.

Anyway, thanks for your time and I hope to learn something.

Regards

Adrian
 
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Reply: 1
From: John P


As far as the investment loan business is concerned Adrian, I don't think you have ANY cause for concern there.

I would be doing the same thing!!!

John
 
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Reply: 1.1
From: Sergey Golovin


Adrian,

I do not think you will not get your FHOG if you are applying for Investment Loan.
Why are you not applying for residential loan? It could much easier.

Serge.
 
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From: Sergey Golovin


Sorry I'll say it again - they might not give it to you (the FHOG) if you are trying to mix owner occupy and investment.

Serge.
 
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