Little_Stone wrote:

Hi Dangermouse9, Looking at it from here, it has $46,000 of use-able equity in it. ($420,000 x 0.8 minus the debt = $46,000).

In most cases you can actually go to 90% than 80% on equity accesses, ie $88,000 available with the right structuring. :)

No can do. They will still get the commission, and this is a little dodgy to say the least. The vendor has taken the agent to assist with the transaction, it's best to talk to them directly.

You've mentioned the current IP's are tired and old, where are they located? Do they have development potential, perhaps you can turn the old properties into new (depreciable) properties.

I'm inclined to hold properties as switching costs in South Australia are quite high (stamp duty etc). When you multiply this over several properties and you find that you lose quite a sum of money to the govt. 

I suggest looking at where you want to be, where you currently are and draw a line between this. See how you can achieve your goals (perhaps to generate a strong income for retirement/freehold PPOR etc) and then see which strategy can take you there as quickly, effectively and low risk as possible.

Both will have to sign off on the docs but as mentioned the use of funds after that point is up to you.

Is this a spousal arrangement, or two separate individuals?

This is just one more risk factor being plugged into the credit scoring matrixs. Consider the huge proportion of the population which pays their bills late (how many utility companies provide a discount on their rates if you pay ON TIME), makes me believe that they will not be targeting the applicants with a water bill a week late here and there, but serial offenders with other defaults listed. Each brush stroke adds to create the total picture in the end.

Huge interest in Brisbane and the real estate agents know it.

I have quite a few clients looking in the Bris market and the best word of advice is to be quick on your feet, you'll find properties are going under contract incredibly fast and for increasingly higher prices. 

Quite happy to pay for a professional property manager. The key is finding one which can provide value to your investment portfolio, being proactive with maintenance and tenant requests, applying consistant pressure on rents as warranted. They are the gate keepers to your most value assets after all.

If you had the time and inclination self managing may be worth it, but I personally believe that I like to invest, not buy myself a lot of jobs. 

What LVR? 15 year term? Most lenders are doing high 5's to low 6's right now, features are becoming more of a competitive space.

Generally this isn't too much of a problem, the hits can be explained away and the lender will move forward from there.

The main issues come when theres multiple hits for credit cards, personal loans and the like, as opposed to property purchases  which can be substantiated.

As everyone else has warned, generally not the best investment. Restricted LVR's, more difficult to sell, limited capital growth, high body corp fees.

Because of those factors, that's generally why they are cheaper than normal apartment alternatives.