Much appreciated Terry, I’ll follow on that. I would have gone ahead & fixed my bathroom ceiling just to get a tenant in but no point until the above unit is repaired.

Will keep you posted how the finance side of things goes, but first must apologize, I was meant to write Jamie not Jaime. I’m used to writing that as it’s one of my boss’s names.

Wstpac have just increased their 3 year fixed by 0.2%.. but the 2 year remains unchanged. Hmm so now the options if i fix are 4.89% for the 2 year vs the new rate of 5.19% for the 3 year. I'm assuming the 2 year with a split of 80/20 is the way to go??? which gives me the option of topping up if equity becomes available for a future purchase. 

Looks like the banks are confirming we're at the bottom of interest reductions! 

Thanks guys, with further research I'm deciding on a 80% Fixed / 20% Variable which should allow me the option of topping up the loan should re-valuations come back with sufficient equity for a further purchase in future. The properties are sitting neutral to positive CF now so fixing will give me the piece of mind that they will take care of themselves for the next 3 years.

Catalyst the rates i'm looking at are 4.98% for 3 years, the only property i'm hesitant to fix for 3 years is the Gladstone inner city unit as we've seen the market snowballing backwards.. although optimistic in the medium to long term. Possibly maybe locking that one in on 2 years only at 4.88%

Cheers

Thanks for the replies & responses guys, a guess more of a relief to know that I’m on the right path by steadily buying quality property rather than focusing on quantity, then using savings & unlocking equity when values go up… patience isn’t my best characteristic but I guess I’ll sleep better with the LVR under 80% & properties taking care of themselves than getting in over my head. I know I regretted years ago not buying & just ensuring with the upcoming perfect storm of rising values I don’t get left behind.

Yep Catalyst I’m trying to find that “winning” strategy, & agree that cash flow with GC potential is king.. doing my best to build that snowball! Sure Harvest I have a good team here in Hong Kong with broker & accountancy & have been great assisting with loans, serviceability due to the stupid high aussie dollar is what’s causing issues. Wish I had of bought here as Hong Kong prices have doubled in 3 years but to get into the market here as an investor requires 50% deposit + gov fees. I feel for the Hong Kong locals here, low wages & no chance of buying into property as the cashed up mainlanders have bought up big pushing prices through the roof, looks like there starting to do the same thing in Sydney. 

I’d love to be able to buy & renovate from the other side of the world but makes a lot more sense & to utilize a buyers agent for the time being, hard part is going to be the 10k buyers fee each time I purchase.

Anyway this may be for a future post but maybe you can confirm my plans further… Last year I bought a corner block in Nth st marys on 690sq, original plan was for chasing yield with a granny flat but after researching it seems I’m better off from a GC perspective leaving it as & redirecting funds elsewhere. It’s zoned 2B therefore being possible to put a duplex on which I was thinking would be great in a few years? Or I wonder if the council would ever allow subdividing this size block? The house sits nicely in the front half of the block.

Cheers all & hope we’re all enjoying your Saturday night!