Hi Celmel,

we have a very similar situation to you that is set up beautifully, where our "investment property" LOC pays all the IPs bills, rates etc, and recieves all the rentals.  It is also the source of our 20% deposit plus costs for any new investments.  Any "spare" income from our day jobs we have gets chucked into there as well.  We then have a different LOC for private expenses.

If costs to purchase are about 5% of purchase price, then this LOC has to supply 25% of cost of each new IP.  Therefore the outstanding balance represents 1/4 of the possible total value of new IP purchases we can make.  This is good so we always have a clear idea of what our limit is when searching out new properties.

Tax time is easy becasue you just allocate all the various ins and outs to each IP and figure out how each IP is doing.

In summary, I totally recommend it.

well if you are already paying the power bill, what is the problem?

Yours is just a gross feed vs net feed question, I think, which is just going to be a state law (as opposed to all the stuff about second lines etc).

Look at this website, which outlines stuff for VIC:

http://www.energymatters.com.au/government-rebates/feedintariff.php#victoria

I prefer YIP

I have a job and some cash and I would have buckleys getting that kind of money. You'd have even less chance from the sounds of it.

Also I wouldn't call that a VERY worthy cause.  I'd call it a totally unrealistic waste of money.  Someone else's pipe dream.

My suggestion is aim lower.  It is free to dream.  Everyone has a dream, and it gives you energy when you have got a good one.  But I think your dream needs to be tainted with realism.

Good luck

What about a line of credit loan for the maximum amount of available equity?

That way you only get charged interest on what you use, while the rest just sits there available but not accruing interest. 

Yeah good start.

I am at the end of the 3 months you referred to.  At the start, I knew next to nil.  Then by a peculiar quirk of fate (a broken bone in my foot, of all things) I could do nothing except lie around like a whale and read.  So I read every investment article, magazine and book I could get my hands on for about a month (fitted in around fulltime work and lots of kids).  At the end I know a lot more than at the start, but I can see there is a helluva lot more to learn.  Education is where it is at. Some were good others were crap. 

I would recommend reading

• Steve McKnight's book "From 0-130 properties in 3.5 years"
• Margaret Lomas "20 Must ask questions for every property investor"
• Robert Kiyosaki "Rich Dad Poor Dad"  (start with this one if you've never read it.  Almost all the other books quote it. Inspirational and it makes you want to get going.
• Buy current edition of "Your Investment Property" magazine from any newsagent.  Apart from v good articles it has excellent tables in the back that detail growth in every suburb in Australia, vacancy rates, rental returns etc etc.
• Using whatever suburbs you narrow down on from that magazine, look them up on realestate.com.au and ring a few agents of good prospective properties.  They often seem to have a few  homes not yet on the internet that may be even better than the ones on the website.
• I am personally in favour of buying all over the place (to spread the risk, lower the land tax in diff states, capitalise of different growth rates etc) but like I said I'm in the embyonic stage of property investment myself and that idea has only come from reading some of these books.  (Eg Margaret Lomas asserts that she always buys sight unseen, but always gets a building inspection done, and a rental appraisal etc.  That way she remains objective and unemotional and people more trained than her can do what they are good at, like telling you whether it is well built or not. She also buys in different states as well, without seeing.  Steve McKnight, however says you should inspect them all and even has downloadable inspection templates somewhere on this website). 

So we put offers on a few places around the place and now have 2 IPs with more being scrutinised.

I hope this helps.  I have also asked the question on this forum re whether using a buyers agent would be better as my work is a bit consuming, but if you have time to spare, that is my 2c worth.  I go it yourself for a while first and learn as much as you can.

Welcome thirsty. 

  Hey that's quite an impressive time to get the guts up!! ( I joined the day I discovered its existance).

Thirsty for what?

interesting.

I wonder is that due to Aust average earinings being high or due to house prices being low?  I would be hardpressed to think house prices were high in Morocco.

 There's a lot of rich countries down the bottom end (though what is bangladesh doing there?)