Thanks guys. I've taken that location on board and realise it will hold it back but means it is cheaper to begin with.Thanks JacM also for the book link it was good read. Wish I had known this stuff over 10 yrs ago! Oh well better late than never I guess!

Hi JacM and others and happy new year!!Thanks for the link, I've been MIA on holidays and cooling off extended until 13th January due to Christmas break and have had time to think about it. The main difference I see with the other thread is that this apartment can be purchased and rented out without any need for using metro the serviced apartment…[Read more]

How woudl everyone feel about the property being in a serviced apartment block but not having the same restrictions on renting or living in the apartment?My main concern is higher strata to maintain the building more so than a regular block. In this case would you still support the idea of the 1 bdrm apartment?My…[Read more]

This is a great blog and he predicts a severe crunch due to too much debt?? definitely worth a read and he updates quite frequently. not sure if it will happen but hemakes some damn good arguments… particularly because of the FHOG etc? I think it will hit home owners more than…[Read more]

This is a great blog and he predicts a severe crunch due to too much debt?? definitely worth a read and he updates quite frequently:http://www.debtdeflation.com/blogs/2009/11/04/its-the-leverage-stupid/

devo76 wrote:
I doubt rates will hit 8.5% and if they do they will not be there for long. Look at the blood on the streets last time and our debt levels have not improved. Im thinking around 7%

this article indicates rates to hit 8.5% if anything to go…[Read more]

p.s. the bank he chose originally was a mistake on his part and he  admitted he knew they normally are quite strict but his contact there had advised this instance woudl be ok but was obviously wrong and apologised. have to wait and see on approval in meantime try and do my calculations. i guess the FHOG and no stamp duty is a slight factor in it…[Read more]

hey doesn't mattnz make a good point? i'm getting a property in an area at a discount and am saving in that regard. I honestly think that the vendor may be underselling himself a little as it was purely an investment property for him previously. I feel i can get better appreciation selling it as a ppurely residential unit in future. I am waiting…[Read more]

thanks all!! I guess its everyone's dream to own a place and i'm just trying to live that dream like every Joe average, but yes your right it doesn't have to be my PPOR as you say. I will have a long hard think over next few days. FYI it's 49 sqm as you mentioned so is on the borderline of the smaller apartments.I have much to dwell on now…. and…[Read more]

ok well good point . well I get FHOG and no stamp duty as bonus… I have about $100k to invest so could look at something cheaper in the suburbs instead that will appreciate instead, but would have to live in it for 6 months to get the grant which I probably won't want to do…I'll have wasted about $1.5k on this property with strata checks,…[Read more]

One can only guess ofcourse and hope for a time machine but this may help with predictions as of today, that will obviously change as time goes on:http://www.domain.com.au/Public/Article.aspx?id=1260034324287&index=NationalIndex&headline=Home_rates_++39;to_hit_8.5%++39;

it will cost about the same to rent a property like this as it will for repaying a mortgage to own this property, so I won't have any money to reinvest elsewhere if I live there…so I only see 2 logical options:1. rent and do no investing and have nothing after a few yrs2. buy and at least have some profit from a sale or property I can keep or…[Read more]

does everyone agree small apartments should double every 10 yrs. this is a 1bdrm inner city apartment and I don't know if that rule stands for smaller apartments? 2+ maybe more so? guess that's a whole otehr debate about size of apartmenst to buy. at the end of the day its for  a place to live rather than investment so I think i'm happy with my…[Read more]

Hi JacM thankyou and very valid point. It is a concern…. But weighing up the investment return I could make close to $20k/yr return based on current rents (excluding strata/rates etc) as an investment and so is always an option in that regard and could honestly see myself keeping this property long terms simply for the location. If a property…[Read more]

Thanks George99 (and others!) Yes agreed that's how I have been thinking about it. Strata is expensive as expected for its location and probably a bit more than other places as they keep it better maintained than a normal block for appearance sake for customers of the serviced apartments. I have had a strata check done and it all appears in…[Read more]

I just found out 12 are owner occupied and 30 are in the pool of serviced so probably makes it less likely for conversion. Ideally I would pay someone for advise if required who may be an expert in this area before committing if anyone can help? Thanks.

Also, could anyone recommend someone who may be experienced with this type of property and offer advice on this specific block and investigate number of owner occupiers etc and chance of conversion?  I am looking to finalise within the week so would like to investigate before I give a 10% deposit. I have given my 0.25% deposit with cooling off…[Read more]

Thanks for advice. I totally agree that the capital return is a  worry. I really like this apartment and is perfect for me. I can live in it purely as a tenant and is ideal for me and is one of the first places I have seen in along time looking that "feels right" and is within my price range. Only about 20 of the 42 apartments is apparently…[Read more]