why do you have a mortgage on the property that you are living in ? and why do you have no mortgage on the investment property ?

I think you should swap your loans around because as catalyst was talking about there is non deductible debt. and dedeuctible debt 

That means that the interest you are paying on your current PPOR (Principle place of residence) is Non tax deductible against your current incomes and rental income of the other property…

I would ask the financial planner if only for this one piece of advice. That you should take out a mortgage against the investment property. and you should repay your homeloan debt on your current PPOR.

You would save thousands in tax, depending on the values and how much debt you have on your current 2 year old ppor in brighton it could be 10s of thousands.

Get another broker. That one isn't worth 2 bob.

A good broker does more than just get you the finance. They help you understand and analyse the deal. They should also help you refine your investing strategy that enables you to be properly structured for future growth/investing opportunities. You reconfirm that advice/info with your accountant and at a deeper level.

Just simply buy something doesn't cut it.

The idea is to look for distressed property and then assign it to an investor for a fee.

This is called wholesaling in the USA, and I'm interested to know if it can be done (legally) in Australia ?

It can land you in a lot of hot water with the ATO. and on the face of it (if you do not declare the facts, it is fraud)

As stated in requirements of the grant (which is a reasonable sum of money, please don't forget this. Its a privilege in Australia not a right) you must reside in the property for six months in the first 12 months of ownership after completion of construction

As Terry pointed out if you live in the property, and then it becomes an investment later on, and you sell (with in 7 seven years of you living there) the property may be deemed PPOR, thereby not subject to capital gains Tax (something to consider in your exit strategy) 

Saying this as you asked for creative ideas, and I personally like to hear a slow yes than a fast no.

an option maybe to take on a boarder while you live there (ie a house mate). there is certain criteria they have to meet, however, the income will have to be declared, but you deduct their portion of expenses (eg power phone, gas etc), and you may meet the conditions of FHG and PPOR.

get the balance right (expenses = board)

Could be the win you are looking for. however check your facts first!!

Just on a side note (and perhaps a big learning point for you), buying a property as a home for yourself is NOT the same as buying an investment. please don't confuse the two, it can be very problematic, especially when it comes to financing and government grants

Please let us know on how to go

cheers

Ritchie