Just had an update from one of our lenders:

"It's back – 95% LVR's with NO genuine savings!"

It was only a matter of time.

As a side note, it is also expected that the business and investment purpose declaration is gonig to change in the near future in order to bring most consumer lending under control – business and commercial lending is slotted to be reviewed thereafter.

Richard is spot on – there is no possible way to buy your own PPOR with your super fund.  In fact, you can't buy any property off yourself.  If you find someone that says they have a way, run, run a long way away. 

I've only used it on Demo, but I've heard good things about it.  Just like any tool, it comes down to how well you use it, how often and understanding what it can and can't do for you.

I'm based in Sydney, but our firm has Brisbane clients that are really happy with Tony Lee & Associates.  They have a couple of offices, and know a LOT about property and asset protection.  Google them.

That is quite the pickle – life is made up of a balance of enjoying yourself, and working hard.  For some people, it's all about the money, while for others the money means much less to them.
What I usually do is analyse the situation and do a case study.  Try and be as realistic as possible, and work out what is the profit of moving.  Think about the net value add from a renovation, the additional cost of the mortgage, factor in some interest rate increases as well.  When all is said and done, you should be able to work out that your idea is going to make you $xx.xx.  When you then weigh up the cost to your lifestyle in moving, you then think to yourself – would I do this to my lifestyle for that amount of money.  If you're not sure, then you have to think about it some more – if it's a resounding YES or NO! then you have your answer.  But you can't make a decision without sufficient facts, cold hard facts, especially when you're deciding between the money and the lifestyle.

The first thing I usually look at with off the plan purchases are comparable sales in the area.  Also, I look at units that are up to 5 years old just to see what people are really willing to pay on the open market, not just off the plan.  If you can find a 2br unit that has a similar aspect etc, and the price is the same, then it's a great start.  And don't forget, when you're looking at comparable sales, try and find out what things were actually sold at, not just what the asking price is.  Many people look for a reason to buy, to justify their earlier decision – be wary of this thought process.

Secondly, you have to get a feel for if the property itself is in an area that is worthwhile investing into.  I've had many a client come in with what looks like a great oportunity when you look at micro factors, such as price, layout etc – however the areas have been complete duds.

Other areas to look at are things like the sunset clause of the contract (if it gets delayed, can they walk away from your sale and potentially sell it at a higher price to someone else?) inclusions etc etc.

It's not a comprehensive list, but I hope it helps a bit.

Your brother would have to come up with the cash to buy your half somehow – usually this will come from the bank.  It is really just him buying another half of the property, so it can be very straight forward providing the bank approves it.  He will have to have sufficient equity so that the total debt on the property is within the banks guidelines.

Whether you want to sell your half of not is really just a matter of what your overall investment and life strategy is – if you're looking at getting a PPOR in the near future, then freeing up some cash could be useful – however you have to consider things such as capital gains tax.  Another consideration is how good is the property as an investment?  Is it worth hanging onto?

Hope that helps in some small way, post back with more questions if you like.

Finspec.

Definately the offset account.  An expression I use often is:

Penny saved is a penny made – and often tax free!

You would have to earn a higher amount of money (and therefore take risk) then pay tax on that money to make the same as what you would save with the funds in the offset account.  Word of warning however, ensure that you put extra money saved (from paying less interest) into the offset account as well.  In fact, if you're going to turn it into an IP, try and make the loan I/O and put all extra repayments into the offset.

Best of luck!

Just like every profession, you're going to have your good and bad.  I think that I know who you're talking about on the internet as well.
Good buyers agents can get you access to things you wish you had access to – and they can offer exceptional value for money when you consider what you're getting.  However, there are also plent of guys running around claiming to be buyers agents that don't really do anything other than charge you a fee for what you can easily do yourself.
At the end of the day, if you pay someone 2 or 3%, and they save you 4%+, then you've made a return on your investment.
Getting personal recommendations is always a good idea as well.