Found a good forum for those looking at property investment in loch sport at http://www.lochsport.org. Good way to connect to the locals who seem to know property in loch sport pretty well and where not to buy.

Oh btw. If you can afford a bit more Id look at laverton for your first IP. Laverton is ment to run hot this year. blocks 600sq in williams landing are going for around 400k where as in laverton you get a house on a 700sq block for a bit more then that. You got a zone one train station there, shops, pool, schools its excellent to rent. Older houses mean you don’t have to worry so much about tenants putting holes in walls etc. In future you also have the option of subdervididing and putting a second IP at the back.

I seriously thinking about buying another one there myself. I currently have 2 IP’s and a PPOR so just to worried about over committing myself.

I couldn’t recommend anyone I have used… they have all been useless. I definately wouldn’t touch professionals altona. However I have heard only good things about RPM my neighbour acutally works for them in the city in rentals. They charge ALOT in comparision but I believe they offer a good service. Just watch your tenants be very picky. We have had 2 tenants do runners on us. Get references etc don’t rent to anyone who hasn’t rented before.

The best property manager I ever had was the one I got at the moment….. myself. rented my house out to some friends they have been fantastic looked after the place and rent is always in on time we just do it via automatic payment. Infact I don’t even check it goes in half the time lol because I 100% trust them.

I got my insurance thou comminsure. They have been good had to make a claim for lost rent and damage was very pain free process really!

Michael respect you opinion but got to say I think I take a different view. I live in a McMansion estate in the western suburbs. We had a land release last week where they had raised priced of land by 20% and still sold 50 blocks in 2 hours. There really isn’t enough and if we need to build houses there isn’t much we can do about it. Not sure why you think these areas will become slums but like everything estaes have got better with time.

We are close to many schools, parks, train stations and shopping complexes and our roads are not as blocked as the over crowded eastern suburbs. estates are required to provide certain ammenties now and they are also required to fund the costs of upgrading roads around the estate.

I think they have learn from the mistakes 50 years ago of just wacking up houses and worring about infustruture later. The biggest winner for the growth bondries being extended are no the developers but the current land owners who will sell up to devine and the likes for millions and millions of dollars when they most likely brought the land cheaply.

paper. Im 30 with my 3rd IP so young and in same position have high income. I started out like you little depost for first one bout 5 years ago. My take on it was to move out of my ppor and use it as an IP almost immediately. I rented myself and saved while renting once I had saved another deposit i purchased another house which became my PPOR . This was the hardest step to be paying a mortage, renting and saving without a decent income I couldn’t have done. However no 3 was pretty easy as by that time we had good equity.

My advise to would be to not think so agressively pay of your PPOR get it down to 80% before even thinking about the next one and save the deposit (at least 10% + fees). between 1-2 for me was about 3 years.

having a highly geared IP can be costly. You repayments will be high and remember you need to allow 4 weeks where the place will be empty most years + rates agents fees etc etc. Plus you will be the extra for LMI and also will prolly get charged higher lending charges for being highly geared.

Honestly prices will prolly take a small hit in the next 2 years from the looks. While property is a long term investment. Your entry point is critical if you have low deposit. you don’t want to end up own 110% of what your IP is worth. Have equity allows you to bail at any time.

I think high income is critical to getting started so do that overtime and bust your nackers for a few years. 55 hour weeks became my norm

Not 30-32 is it? if so I used to live there upstairs