Hi, I'm in a similar situation though I thank god I already own a house over here in Perth. I can't really believe that Perth can go much higher (but we've been proved wrong on that one many times already I guess) and historically it seems Sydney has usually been the price leader in Oz so I feel that it must be a good time to use some of my crazy West Coast equity to buy an IP interstate.

Unfortunately I know very little about Sydney, been there once for a couple of days on a ski trip years back and have no friends or relatives in town but I'm flying over for a few days next week and as I've only just discovered this site could anyone give me a few tips on where to look, who to talk to, good agents (buyer and seller). I'll get a hire car so traveling shouldn't be a problem but I think I'd prefer to stay around the city and harbour but I'm certainly open to suggestions. I think my budget could be anything up to 400k, depending on cashflow, though I would like to start smaller.