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<snip> If so then certainly I would not use a LOC for you initial loan but look at either an Interest only or P & I loan with 100% offset account. By all means a investment LOC can sit behind this to be used to fund IP deposits. <snip>
Richard, why would you not suggest a LOC for the initial loan? What's the difference between using an offset account & a LOC? thx
Hi, I live on the Ashgrove/Red Hill border & I can highly recommend Ashgrove, although you will find it hard to find a property in your price range here.
I lived in Kenmore (next door to Chapel Hill) & moved from there about 10 years ago due to transport trouble. From what I hear it has become even worse over the years!
I had been looking for an IP in Mitchelton (thanks for your help with a report Richard!) as I think it's a great area & spend a bit of time there. Lately though, I've decided to give Mitchy away as it seems to be becoming too popular & to me overpriced.
It depends on what you want though. Mitchelton is great because it has a train, Ashgrove does not. That said, your children are about the same age as mine & Ashgrove is just perfect for young families. There's plenty of parks, good schools, childcare and its close to shops and the city & has a great sense of community (at least in my part of it). I think if you buy here you will be very happy. I'd buy IP here if I had the cash but I dont so that's why I was looking at Mitchy. Good luck!
