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Luckily I am capable of undertaking the majority of work myself and have a supply of tradie mates that can assist on jobs that I cannot do alone.
The specific areas that I am looking at have vacancy rates around 1% and an average gross yield of 6%. The rental market is quite tight in Wollongong.

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If vacancy rates are 1% and…[Read more]

I am currently paying P&I at 5.51% variable on my PPOR loan with them and am quite happy for my mortgage to remain with them. At this stage I am paying an extra $400 a month above min. I can see the sense in going IO as my extra payments are in the redraw and in effect not able to be used for a tax deductible purpose. 
Thanks. I will look into it…[Read more]

Shahin,

IMB is my current lender. Fairly conservative by all accounts and are apparently no longer in the broker market.
I would like to keep my options open re buying another IP and also retain a some funds to improve the first IP.

QLDS, 

Thanks also for your response.
I have been fairly unemotional throughout the property finding process to date, but have been concerned that my structure is setup correctly from the get go. It may be time to go back to the accountant for some detailed planning regarding account setup going forward. 
He might have a vested interest in…[Read more]

Freckle,
Despite the fact you didn't actually answer any of my questions, I appreciate the response nonetheless, even if it was a bit "ranty".

The reason I have chosen the Illawarra as the place to invest is that I live in the region and it is my intention to buy properties cheaply and add value through functional renovations, thereby increasing…[Read more]