The fact is, there are loads of ‘investors’ out there that will pay too much for property, thinking an $86K house is a good bargain. You’ve done very well in getting a Residex report, most people don’t. I’m hoping when I go to sell my property that I can sell it to someone who will pay full price for it, rather than a knowledgable investor who will try to knock me down on it, knowing the current state of the market. Or get a bidding war going, where I can sit back and enjoy! Just remember….houses are like buses, another one comes along if you miss the first one. Also, your $90K house was reduced by only $4K, you want to be able to get a house where you’ve gotten a discount under the Residex value….possibly because the vendor is desperate to sell or some other reason. [] Now that’s a bargain!
I welcome those types of uniformed ‘investors’ in the market, because they drive up the market value, it’s then just a matter of biding your time and making knowledgable, informed buying decisions when you’re buying another property in that market.

The bank for Lo Doc’s that will take a brand new ABN is Macquarie bank. They have a low doc at around 7.08% and you could have your ABN for a day apparently.
I have just gotten a lo doc loan through Macquarie, haven’t had to show any financials, but we’ve had our ABN over 2 years, so maybe they go on that. LVR is 60% though….
The thing with Steve and Dave was that they quit and started their own business with clients they took with them from their previous job, and still had their wives incomes coming in. If you just quit your job to make your fortune being a property investor, you may find things a little harder.