2 Year so far so good
 

1) Applied for skilled migration in March 2004.
2) Got the visa in December 2004
3) Got a one year employment contract for 100k in Sydney in Feb 2005.
4) Gave 2 months notice to my employer in Lon, put my house for sale and rental
5) Shipped all my house hold stuff and my German car in a 20 ft container in
April 05.
6) Since no beds in the house went on 3 wks holiday to Europe.
7) Arrived in Sydney on 30th April 05, all in one...strait to settlement rather than two trips, ones to stamp and one to settle !!!.
8) Started my contract job on 2nd May 05
9) Found a good rental property in June 05
10) Shippment + car arrived in June 05.
11) 3 months my property is not sold or rented but in Sep got a tenant
12) September 05, left my one year 100k contract job and joined a permantant job with 100k salary.
13) December 06, my tenant in London left with approx 1000 damages.
14) Back to no rental or sale for 5 month but atlast sold the property in April 07. I got extra £13,000 compared to 05 sale price. Over all I was better off renting the property even though I had total of 8 month no rent.

Next ----

Will monitor the property values in Sydney for next month or two and buy a property for less $500k to benefit free stamp duty and $7k allowance. Stay in the property for 6 months and let it out. Then buy anorther property to to live and the 1st property will be an investment property !!

Property prices since I came has be declining and hope it will further.

If UK property prices crashes.....in time to come I shall re-buy as an investment. Property value in the UK is far more in value than in Aust!!


PS / Prior to applying for Visa, we visited the Australia twice on holiday. 2002 one month in Syd and 2003 one month in Melb and pref Syd

Re: 2 Year so far so good
 

You may find you need to live in the property for one year for 1st home buyers grant.Check it out.

You would need to put down the minimum (20%) on the first property ,unless you want close to positive gearing.You cannot refinance the first property to buy the second ,and then claim the interest as a tax deduction.

If you want to negative gear ,then probably you are better off living in the first property and then using it as a deposit for the second property,thus having a 100% mortgage on the second property,fully deductable.Buy new as the depreciation schedule is better,gives you a real boost in the first year.