Well, I have the money to use on another property, but I like a buffer. Brings me piece of mind and helps me sleep at night, financially probably not the best way to go about it but thats my call. 
The property was purchased for $315k from a family that had to sell then and there basically. The bank valuation came in at over $345+ 
I will be…[Read more]

Do you know what soil the premises is built on top of? What sort of foundations does it have? How old is the house etc? 

So when do you exactly pay the principle back on a "interest only" loan….  After all a debt must be paid back at some point right?
What happens if every Tom, Dick & Harry's house go down in value and selling will cause them to go bankrupt?

Currently I only own 1 investment property and live with the in laws (it's a big house so its bearable). It is more cost effective for my partner and I to buy another property or two in the near future and providing that they aren't all untenanted at the same time, for a prolonged period of time we will be able to service to loans and redraw for…[Read more]

It is interest and principle. I don't believe in the interest only dribble. 

I've seen her DVD, from what I can gather, your better off saving your cash and just hunt down state trustee/mortgagee sales. Alternatively you can always suss out the court listings yourself and track down the individuals involved in the proceeding's. 

Mine is under an Investment Property loan…
I may just wait for this new transactional offset account to role out. 

I believe so, I have a smart access account with the commonwealth bank that I believe works as an offset account. 

That's correct Jamie. 
The property is a IP. 
Thanks for the advice. 

Ah, thanks guys. I guess its what you learn first time around. 

Don't get married again. 

Don't be lazy and go and look. Property and Pest inspections are incredibly biased as most inspections offer a service of rectifying the problem, for example, you may be charged $500 to put 'Tallen' or 'Rat Sack' in the roof, when really, it will cost $6 for rodent poison and 30 seconds on a ladder.

Calculate by 52.14, not 52. The extra coinage may make a difference. 

Thanks very much guys, appreciate it.