Hi Spanky,

Here are the requirements for the FHOG……

Eligibility requirements
FHOGS is available to people buying or building their first home and who meet the following eligibility criteria:

1. Each applicant is a natural person and not a company or trust

2. At least one applicant is a permanent resident or Australian citizen

3. Each…[Read more]

Thanks for your replies westan,

Yes i think you are right, putting profits back into property is probably wise. I would have more to put towards the deposit and costs for the next reno, and be able to buy in better areas. I plan to be able to buy into the lucrative canal homes within the next 6 years, which is where big money can be made.

As…[Read more]

Hi Bizibee,

Yes you are correct, my IP, with the figures i gave isn’t quite cf+, but because it is my first IP i had to have a 20% deposit. So with the small rejuv i will give it the figures will be loan of 104K receiving $250 per week rent. It works out (minus costs) to be cf+ by a small $10 a week, not much but i have to start somewhere. I…[Read more]

I have just bought my first IP, a 1 bedroom apartment in the Brisbane CBD. Paid $130,000, currently tenanted at $230 a week. Doing a rejuv in January which should see it get $250 a week. Was valued at $140K when i bought it, so with a rejuv it will hopefully be valued in the $150K’s.

Am looking at another property at the moment and would…[Read more]

Hi FireCaeser,

I have just bought my first IP in the Brisbane CBD and i can tell you it is completely posible to buy an apartment for less than 140K. I purchased one for $130K with a 20% deposit which is currently renting at $230 a week. From day one it is CF+ and when the tenant moves out in January i will be giving it a facelift (flooring,…[Read more]