Gday, as I said Iam new to IP buying – in fact I havnt started yet! I still need to work out all the finance details but what I want to do essentially is this. Currently I live on beautiful daydream Island as my girlfriend and I continue on building on our 20k+ deposit and we plan to move to Melb in early 08 so I thought that I would have my mother and brothers move into a house that we bought and rent it off of us until we moved down nxst year. At that point we woul move in and they would begin to pay board as opposed to rent. The biggest drawback – apart from finance, is finding a 4 bedroom property in the area required that would nt require us to pay over 500 bucks a week in mortgage costs effectively wiping out our profit margin. Please, please give your advise and opinions, only to happy to ellaborate if required.
Andrew
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