Thanks for the tips Matt.

Looking good mate, you must be going through lots of coffee to get so much done in so little time!

Seaford is only just starting to boom IMO, nearby Frankston has been identified as being a growth area which will steadily increase it's value. I would advise to keep it if it is at all possible for you. As for getting anything for under 300K in Croydon, unless it's a tumble down unit, good luck. Let me know if you find one.

Thanks for the advice, more to think about! I'm also considering properties that can be subdivided, so as to create two properties from one. This appears to need a bit less money up front than buying two separate ones,taking into account building costs etc.

Thanks, now i have a much better idea of how to proceed

Thanks Richard. So if i am correct, i would be paying P/I loan on PPOR, as well as the LOC, and an IO loan on the IP?This has raised a couple more questions for me.1. Which account would i deposit my wages and the rent from the IP?2. Would the ATO frown upon me leaving the LOC deductible interest unpaid for a period whilst paying down the loan on…[Read more]