I put Ikea wardrobes in my IP.  They were a great alternative as they come flat packed and are really easy to put together.  Admittedly it was a pain trying to organise transport and loading the stuff yourself.  You definately need to bring a friend! 
Don't forget the handles like I did and had to make a second trip to get them.  And be careful about the accessories you put in.  They can very soon add up and before you know it you've spent more than intended.

I'm pretty sure that you need to do your due dilligence before the auction.  I suppose you could say you are buying "as is where is".

hi Skuz
Run the numbers on a spreadsheet so you can really compare what you are looking at.  If you have the cashflow to do it then why not.  Remember to work in the worst case senarios such as interest rates increasing etc.  If you can survive the worst case senario then it doesn't look so scary.

The time to buy is always when you find a deal that you can make money from.  As jparry said – do your due dilligence.  If the numbers stack up then its time to buy.  Its what you will buy that is probably different at the moment.  Rather that aiming for capital growth perhaps look at renos or conversions where you can make good money up front

Remember next time you sign a rental agreement with your agent that you can negotiate the agents commission.  It pays to shop around and see if you can get cheaper and if your happy with your agents service then ask him to drop his commission.

I really don't think anyone knows what will happen with share prices or property prices.  Every expert has a different opinion.  Really if you want a new PPOR then go ahead and get one.  Your buying for the long term anyway.  Sitting on the fence with your money in cash is loosing you money anyway.

I think the important thing with any of these investment books is to understand the underlying strategy and expected outcomes of that strategy.  To fully understand the strategy you must also understand the pitfalls as well.  I believe that unless you understand cashflows and research property growth and the tax implications you can get into serious trouble.

You need to also have some idea of your goals and outcomes so that you can pick one or a combination of strategies that work best for you.

I personally perfer channelling my spare cash into diversified funds, particularly those geared towards income producing.  I can leveridge them for extra gain and then use the income to pay off property investments.

Amanda, your a legend as usual!

I agree with Wayne. Its amazing how many people start out investing with no clear idea of what they want to achieve and how to do it. I would say

1. Work out your goals. What you want to achieve. e.g. for me it is getting a replacement income so I can spend more time at home and then also generating a retirement income
2. Read, read, read. Can books out from the library – a great resource. Steve McKnights, Margaret Lomax, Micharel Yardney just to name a few. All have different investment styles and philosophies. You need to work out what investment style will work for you.
3. Work out your strenghts and weaknesses….e.g. time poor, cash rich, good at manual works such as carpentry (so renovating would suit). It is important to work out what you will be good at to help you focus your investment style and how to achieve your goals.
4. Talk to people on forums such as this one, somersoft, invested. You will find a wealth of information.
5. Do proper due dilligence. Remember property investing, or any other sort of investing is not about buying something for the sake of it. It is about crunching the numbers first and understanding what the outcomes will be before you get into the deal.
6. JUST DO IT. Don’t get analysis paralysis. At some point you need to stop analysing and just get out there. It is the best way to learn.

Cheers