Agree; most houses built over 30 years ago will have some form of asbestos. Out of 1000's of  application i have only probably seen 1-2 bank valuation where the asbestos has caused some grief and this is because the property was under going major structural renovations and the funds/revalue was required as part of the "As if  completed construction valuation " and  that particular property was covered in asbestos the cost to removed asbestos was not taken in consideration in the "renovations/construction cost"  

Having said that it's always smart to take asbestos into consideration for any purchase as the cost to remove asbestos is hefty+ the lack of flexibility too renovate can cause some issues.

^ Sage advice. Quality over quantity – it's not a race lol.

Regarding buying x number of properties in a short period of time, it's only possible with a massive amount of equity built up over a number of years with a good foundation property- the only way to consistently bring forward even a 10% deposit for each purchase is via equity only – cash is simply not sustainable. Having an high income is important but really secondary as it can be made up over time with increasing rent and also buying at the right yield.

Positive cash flow tends too be the favor of the year; but don't forget a mixture of at least one good capital growth investment or PPOR is equally as important for a balanced portfolio as this CG property is normally the one that determine how many properties you can afford too buy moving forward as it should be your foundation property for "Equity"  ( not saying CF have no CG…but limited and usually slower CG)

I settled on my 4th property purchase for this year on the 30th of September, and in the process of waiting for settlement on 3 more ( Mid and end of oct – Nov) – so yes buying x number of properties in a short period is possible…but i was only able to achieve this because i have 2 properties that i  bought in 2007 and 2004, both have gone up in value -considerably ( equity). Note till this year, i haven't bought a property since 2007 ( because of serviceability issues/ new business) – so it's really not a race all about timing based on your current position and strategy.

Personally i prefer too buy in an increasing market ( CF properties) – as it converts too quick equity after purchase; even if im buying 5-10% more then compared too 6-12 month ago and for an depressed market i focus on CG properties. 

Approach a local broker and ask them if they are wiling to take you up as a mentee …like any business it's very difficult in the first 12-24 month, but if you got the heart and passion for it the money will come.

Current loan – $300,000

Equity loan – $100,000

New loan ( 80% of purchase price $400,0000- presuming we are avoiding LMI ) – $320,000

So total loan = 300k + 100K + 320K = $720,000

—-

1. Yes you can have the new loan with a different bank

2. You have access to $100,000 equity, and since the new loan is only $320,000- your using $80,000 of the $100,000- but remember you need to pay for stamp duty as well and other cost which can be used from this equity loan.

3. Tax consideration and loan structures  needs to be taken in consideration to maximize the profits and cash flow.

Regards 

I always suggest my mentee to use Kaplan education. They also offer a face to face training – All states.

As Tom mentioned, MFAA has a list of preferred training providers on their website as well. 

Not all rooms and renovations require council approval, especially internal renovations; simply give your council a call or flick them an email and they will let you know if that room requires approval or not, and the requirements.

^ adding on..set up new loan/purchase as interest in advance to absorb most if not all of the CGT 

Pop Jamie an email and he will sort you out.

Doesn't hurt to get a personalized  expert opinion.

LVR needs to be under 85%…preferably under 80% ( as only one lender will go to 85% on 1 years ABN without charging you too much)

First work out the following;

1. Your current cash flow position

2. if you buy an $X amount property how will your financial position and cash flow look like- what impact does it have

3. Are you after positive gearing or more towards capital growth – or more with your current financial position and looking at what resource for the next 2-3 years which strategy are you more comfortable with

4. Budget

5. What's your risk tolerance – open to different areas? 

6. Any financial and life style changes ( career change, marriage) that you expect in the next 2-3 years and how will this impact your investing style and budget 

7. Do you have a "insurance" buffer in place ( cash, family support etc..)

8. Hows your resource like? Family support, partner, cash, job security

Most importantly DO NOT RUSH IT! and don't be afraid to ask for help.

Regards,

Michael