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 Guildford hoping the ripple effect will take hold there.

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.

I'm looking at Parramatta and surrounding suburbs.

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?

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