There's a mob that does it for about 60k – I'll try to remember who they are. The quotes above wouldn't include approvals from council and connection to drains etc I'd imagine.

Is your site suitable for the 10 day approval? Otherwise it can be a bit of a headache.

Where's the 'like' button…

Hey,
Is it not IO already? Yes the idea is to have it set up as IO with an O/S account from the start.

Placing your extra cash in an O/S account functions the same way paying down principal would, and as stated above, reduces your interest repayments in the meantime, leaves you with less hassles when you want to invest in IP#2 etc down the track. (It's easier to pull out, all principal is left as tax deductible debt etc.)

Living off CC and paying them off by DD to maximise funds in O/S is good, not spending the money in the first place is better

Personally not a fan of OTP or Apartments in general, yet my friend who only buys apartments is currently ahead of me in equity growth so there you go.

I have looked at it, and would personally stick to boutique apartments maximum of 10 per unit block, ensure there are no mega complexes being built around the corner driving prices way down as is the case in Lane Cove/North Sydney, and close to transport, with a garage. Also no pools, elevators, gyms etc, as it usually means high strata.

If it's in a busy area, it is possible to rent the parking space and apartment seperately for an increase in income.
Out west in Sydney apartments are providing great returns for really low entry price, actually have watched them go up in value by 10-20k (10%) in a very short period of time.

As for OTP, would work I suppose in a growing market, tho I prefer to buy into a 'known' market as opposed to speculating personally.

My parents have just come back from China yesterday, and after hearing what they had to say (I was in China earlier in the year and was seeing the same thing to a lesser extent), I would have to (for once ) agree with the Freckle. China's economy has slipped significantly, not that we didn't see this coming i'm sure, since if everyone's broke, who's buying.

I still don't believe it's a big deal if the economy goes backwards, as stated before, if you sell in a bad economy your buying in a bad economy, so no problems unless  your leveraged to the teeth, if house prices go down, so will interest rates, and I doubt rents will budge with everyone trying to buy out. So better cashflow all around…

I'd say that's any standard run of the mill property. Your aim if possible is more than that. Steve Mcknight says to aim for 10.2%. My own target is not shy from that mark.

Just starting myself, yet personally I look for 7% from first looks, then will negotiate/get creative to see how I can increase it to at least 9%, otherwise I have no interest. I'm sure others on this forum would not even look twice at that sort of return and aim for much higher.

Click around on that site…
http://home.id.com.au/id-community/public-resources

Tho the information is yet to include the 2011 census data.

Wow,

Great effort. I purchased my first place when I was 17, however didn't have a clue why or what next till I was 23 :p

Have a plan, read lots of investment books, learn to live frugaly and network network network. Learn from those that have walked the path before you, your only limited by what you see possible.

Remember some of the best lessons learnt come from mistakes, doesn't mean they have to be your mistakes, starting so early means you'll be full of wisdom by the time you get started in the near future.

As sad as it sounds, I undertook most of my overseas flights, purchased a couple of new ‘used’ cars and saved more during the 2008 recession than any year prior.

Made a little bit of spending money on the stock market too, never seen so much movement in a day before.

You can pick things up very cheap when everyone yells out doom and gloom.