It would be difficult finding upwards of 7% but not impossible. You'd have to be a little creative. – purchase something that can do with a cosmetic reno to increase the rent. – purchase something that will provide two income streams – ie. house with granny flat/separate studio out the back – perhaps rent out indiviual rooms to students if the IP…[Read more]

Hey PC_MelbourneWell done on the OTP purchases – you've done well.You do hear horror stories about OTP and there is an element of risk (as there is with any investment) but buying in a growing area coupled with a long settlement can often reap some pretty tidy rewards.I know a lot of investors that do well with OTP purchases here in…[Read more]

Canberra – consistant, reliable and I can self manage I'm also keeping an eye on QLD – Logan.CheersJamie

Hi PJIt's hard to comment without further details. If you share the following basics details we can provide advice. What's your income? What are your current liabilities – mortgage repayments, credit cards, personal loans, ect. It's quite possible to invest with an average income. CheersJamie

What's a good deal? A lower rate from a bank that won't do the deal or a marginally higher rate from a bank what will?

Great first post…….

For the fundamentals of property investing, I'd recommend Jan Somers – Wealth through Residential Property. It's a little outdated now but the fundamentals are still relevant today.CheersJamie

Hi MattYou normally put down a 5% deposit when exchanging contracts on an off the plan purchase.If you're looking to purchase another property soon – I would look at taking out a 90% loan now and paying some LMI. That way, you'll have a fair chunk of your $90k savings left over to use as a deposit on your next property. It's difficult to co…[Read more]

You don't need to be handy – you could outsource the work. Simple things like a cheap kitchen, new flooring and painting could be carried out by a local handyman. You'd be surprised at how much instructional info is also available on the net also – I learnt how to tile via youtube CheersJamie

If you can release some equity in one of your IPs this will allow you to bring a larger deposit to the deal. With a larger deposit, you may only need to take out an 80% loan on your PPOR. If that's the case, there's a couple of lenders that I can think of that may do the deal.Are either of you on probationary periods with work?CheersJamie

Hi KaylahYou could try and create one – look for something that could do with some cosmetic renos that will lead to increased rent. CheersJamie

Pete Tersteeg from Sage Lending in Nunawading – http://www.sagelending.com.au/Excellent broker that deals primarily with investors.

Welcome There's a tonne of info on here and plenty of knowledgeable people who are always happy to answer questions.CheersJamie

Catalyst wrote:
Alan at http://www.propertunity.com.au/     Covers Newcatsle and surrounds also.

Yep, extremely knowledgeable – he posts a lot on the somersoft forum.

It might be a matter of looking at your current finance structure – working out if anything can be tidied up which will allow you to continue purchasing. As mentioned above, it's hard to assess anything without knowing the numbers.CheersJamie

I prefer self managing and agree with much of what Number8 said above.When our properties were being professionally managed, we generally organised the maintenance and had to remind the property managers about inspections, leases expiring, rent increases, etc. Now we're in control – we select the tenants, carry out routine inspections and q…[Read more]

Hi LukeWelcome to the forum and best of luck with the investing. CheersJamie

Only one way to find out…..offer a lower price and see what they say.

Hi WenderI don't think you should jump into anything. It wouldn't hurt spending some time doing more research, reading and learning. Once you've worked out which strategy will suit you best you can then spend some time locating the area you want to invest in. The more knowledge you have the better choices you'll make. CheersJamie

Keeping it as an IP can be a good option – particularly if you feel that you could add some value to it in the future. Can you afford to keep it as an IP? Based on the numbers above it will be negatively geared to the tune of $100 – $150 per week. This won't be too much of a burden once your incomes increase.CheersJamie