A good property manager will be diligent in sourcing a decent tenant. They will also keep on top of regular inspections and rent increases. They will also look after any maintenance issues that arise.

Some people prefer to use a PM for these reasons. Personally, for the properties I have within my local area, I prefer to self manage. There's a website in Canberra that's used for all rental listings. We pay a one off fee and advertise on that website – from there, we hold one or two open inspections. After the inspection, we do background checks on applicants and offer the property to the most suitable.

Cheers

Jamie

We used Dulux elastomeric paint on a rendered property. It's a bit more expensive but definitely worth it. What sort of surface are you painting?

Cheers

Jamie

I have interest only loans on all properties – IP and PPOR.

Have one offset account set up against PPOR.

Get rent paid into offset and expenses paid out of offset. It's essentially the account for all property related income/expenses.

Cheers

Jamie

CF+ means cashflow positive – basically a property that leaves you with cash in your pocket after ALL expenses are paid.

Cheers

Jamie

There you go – that's one way to have your cake and eat it too! CF+ will be a little easier to achieve these days as well with falling rates  – particularly the low fixed rates currently on offer.

Cheers

Jamie

I’m not sure if Terry W does conveyancing but if so i’d use him in a heart beat. If not, Terry or Mick will prob have some good recommendations.

Cheers

Jamie

Hi brmiau

Welcome to the forum.

No one can really answer this question for you. You really need to work out what you want to achieve over the next 15 to 20 years and devise a strategy to meet those goals.

Some people take comfort from paying down their PPOR and enjoy the additional disposable income once the mortgage is paid off whilst others aim to achieve wealth via property investing and leave the 9 to 5 grind earlier than anticipated.

Being a property investing forum – I'm sure most people will tell you to grab your first investment property.

Cheers

Jamie

Hi and welcome to the forum

To be honest, I'm not overly familiar with the US market. However, from what I've been hearing – there will be cheap properties for quite some time….cheap not necessarily equating to good. Like any investment, do your homework and balance the risks with the benefits.

Cheers

Jamie

Should probably be doable – depends on your lender. LMI is generally payable when going over 80% (not all the time depending on the lender) – if you've already paid LMI then it will be a top up on your existing premium (which will be far less than a new LMI policy).

Cheers

Jamie

Hi Daniel

Welcome to the forum.

It's an exciting time. I'd continue to learn – read books and frequent free forums like this one.

Who's providing the professional advice about your first purchase?

Personally, I have a preference towards buying the first property as an owner occupied. That way, you get to take advantage of the Government incentives. Also, if you purchase a property that's in need of basic, cosmetic renovations then you can start working on your new home while living in it. Once completed, have it revalued and hopefully you'll have some new equity to tap into and purchase your first IP.

I also wouldn't wait around saving a 20% deposit to avoid LMI. I write about using LMI to your advantage here

Just my two cents – hope it helps.

Cheers

Jamie