The renovations onpopulare place in Harris Park were done a while ago. It is not brand new but not very old either. I wouldhold there.eed to do anything to it if I rented it out, maybe a bit of paint here and there.

Because of Harris Park being so close to Parramatta the area is very popular. Units are hard to come by, so I decided to look at…[Read more]

I've been looking Harris Park, but units there tend to go very quickly. What do think about Guildford?

I am looking to to purchase 2 bed units with the strategy to hold for 5 – 10 years. I also trying to find 2 bed units in which I can renovate.

Mainly Harris Park, Granville and Merrylands.

I'm looking at Parramatta and surrounding suburbs.

Thanks that helps me very much!

So when do you pay the 10% deposit? On both the occasions that I have bought property I have managed to negotiated a 5% deposit and had paid it at the time of exchanging contracts. Are you saying that you do not have to pay the deposit on exchange? If not when?

Thanks everyone for your help, I have a better understanding of this. Most of the agents that I have spoken to are using this as a sales technique.

I am in Sydney. I have just re-read my previous post. When I said that they asked me to sign a contract I mean they asked me to sign the "contract of sale" + a deposit so that I could lodge my offer.

I am in Sydney. I have just re-read my previous post. When I said that they asked me to sign a contract I mean they asked me to sign the "contract of sale" + a deposit so that I could lodge my offer.

Hi Guys,

Thanks for you replies.

Jamie, I think I will be choosing option 2 to get lower interest rate, but I just want to try and understand why option 1 is no good?

Thanks,

David

Hi Jamie,

Thanks for the comment. I am still a bit new to investing. Could you explain to me your comments below:

I wouldn't look it like that. If you're doing an equity release against IP 1 to fund IP 2 – then I'd assign the loan repayments for that equity release against IP 2 when determining the holding costs. 

David