I bought an investment property outside of Melbourne one and a half years ago. My ex girlfriend pushed me hard. Said I could claim flights home to see my family and that I could offset losses against my income.Its gone from 220k to 260k and the rent now pays the mortgage thanks to low interest rates and my saving power. I'm about to put an offer in today at 300k for a house 20 km from Perth city. I thought having an investment house would make me ineligible for first home buyer grant. But was pleasantly surprised that indeed I can get it. Also stamp duty exempt and reba offering extra 2k. I am stoked because I really thought I was a latecomer to the game and had missed the 2000 boom. Am sure that with approx 30k and some good creativity with the garden will be able to turn it into saleable of 420k within two years or perhaps five if things don't recover so well.
I recently had a four month unemployed period as a result of boom and BUST and studied financials hard (for fun) I recognised now is great opportunity all round and scrapped hard to get back to work so I can be in on this opportune time.
