Sounds very much like whats happening in World Tower in the city also. I suggest that its time for the owners to band together to create options and strategies.

I read a legal case in NSW, where an owner stopped paying for his fees was able to successfully by court intervention was declared bankrupt, by considering the other costs to get the owner over the line to be declared bankrupt. Wish I could find it for you!!!

Well obviously you didnt read my comments properly, as I said nil effort on a silver plater. If you did the due research and worked with someone to get the desirable outcome than thats fine it is a win win situation. My comments did not imply when you have actively worked at it.

Many of your posts these days has been taking more than giving anyway ie your mining towns. Are you saying you are not taking a short cut there than? Letting someone else do all the hard work for you and than you reaping the benefits? Maybe it could come across alot better to mention some of your views and feelings instead of " MUST HAVE HUGE PROFIT POTENTIAL otherwise don't post it up" statement. This implies once again reinforces what I have stated on my earlier post.

My views of course would differ to everyone and thats the beauty about this forum as it is to help one another and share information. 

I also know some people in the city who ownes mutiple places, but they do the unethical thing by overloading the apartments to make it a postive geared property.

BTW that was in the lunchroom not during work hours in case anyone said I was a slacker!!!

Of course people would say to you also to live at home with parents as long as you can to save for your principal or IP. I agree with Jaime as it means you would entitled to the first home owners grant if you live in it for the first 6 months of the 12 month period. Also, until end of this year stamp duty concession for exisiting homes.

The first place wouldnt be the dream home but an opprotunity to have your foot in the door.

I would also look at areas outside of sydney as well if you live in NSW as some areas have alot of instructure being build and may be a blooming area in years to come. For example I laughed years ago when people told me to consider Wollongong and this year when i went there, I was amazed with all the development in the area. I know one friend who is considering the Musslebrook area.  

I disagree with your statement about the "rich will always get richer and nothing will change there" I know many people who have become rich because of hard work and doing the appropriate research. Some rich people who have inherited the money, do not have the education or the knowlege to optimise their returns.

Sure times are tough but if you limite yourself than that is your limitation. I have two jobs and doing two degress with two different univeritys in law but do I cry out poor? Of course it means alot of personal scarifice and time, but I think impossibility is something which one places on themselves.

By the way is the property tenated at the moment? If so they still have an exisiting contract, they are allowed to stay there till the expiry in case you wanted to move in yourself before the end of the year

My real estate agent was complaing of limited supply in the market- NSW hills area. I agree with him as I was able to get my current place after my 5th attempt and the previous homes all went under contract after the 1st open house day.