Guys, As some of you would be aware, I've just returned from a weekend away to sunny Brisbane in search of my elusive first IP. I thought I'd post here the outcome of that trip as well as some of my experiences through the process. First of all, the IP: Success!! We have paid a deposit on a two storey house in a new subdivision about 19km South East of Brisbane. It is 242.7m2 and is on a 700m2 block. The subdivision itself is very nice with good landscaping and is at stage 1 release so should only improve in value as new stages are released to the market. I paid $379,900 for the house and land with a pretty even split between the house component and the land component. So, at 50% land value, this meets one of Steve's crtical criteria for growth. The estate is also predomonately owner occupiers with high "pride of ownership". There was a lot of lawn mowing going on as I walked the very pleasant streets. There's also a new bus stop just inside the entrance of the estate which is about 500m from the house I've bought and connects the estate to the CBD. I liked the house because it was $40K cheaper than an identical one about 200m away which fronted a park in the estate so I think I've bought equity up front. Given it is brand new I should get good depreciation benefits and I'm in the top tax bracket so these are attractive. It should rent for between $350-360 a week conservatively with the potential for a little more. Assuming $360, my numbers suggest I'll be pretty much neutral on my carrying costs. So, I've got a brand new 2 storey house in SEQ's growth corridor in a new subdivision in a nice suburb. Rental demand is strong in a sought after owner occupier estate. All this and my holding costs are virtually zero. The Process: It was an exhaustive process to settle on Brisbane as my city of choice and this has taken literally months of analysis on my part as well as discussions with Steve and others. I suggest everyone conducts their own due diligence in this regard. We spent Saturday looking around under our own steam. First of all we went North to "NorthRidge" estate near Redcliffe, then South to another small subdivision in Kuraby. They represented reasonable value as they were selling for $350K and renting for about $350 a week. However, the quality of the houses were not to the standard of the one we settled on, and the lot sizes were only 400m2 or thereabouts. So, it was cottage court and had minimal landscaping. It was also across the road from housing commission. We also looked at "Edenbrooke" estate near 17 mile rooks and "Windemere" just around the corner. A lovely estate only 12km from town, but entry prices are now at $500K for a house and land as its into final release. Sunday is where the action started. We met Roger in town and did a circuit of the areas which he thought represented value. I have promised Roger not to disclose his "hunting grounds" so I apologise for being a bit obtuse now, but suffice to say that they all made good sense and we saw quite a few properties that we would have happily bought. Roger mentioned all the positive attributes of the areas he proposed and some of these were strikingly apparent. Unfortunately some of the better areas were a bit out of reach for us at the moment and we wanted to keep to our $400K limit so had to head a little further out of town. If you're looking for outstanding value at around the $700K mark, then definately give Roger a call! So, all in all we're ecstatic. We still need to pay another $5K for screens and blinds, plus another $5-7K for split cycle air conditioning. Of course, there's stamp duty and conveyancing etc etc so our total up front cost should be a tad over the $400K mark all done. We're settling in mid-January unless we can get a tennant earlier. It will be available from mid-December following our final inspection. Basically, Roger's assistance was invaluable and we have no regrets at all. Not one! However, in the spirit of continuous improvement, might I suggest for Steve's and Navra's benefit the following potential additions to their process: Potential improvements: 1. Rental Reality. Roger assured us that the houses he proposed met rental reality. However, it would be beneficial if you could provide the rental reality breakdown for the proposed postcodes. Show the median yields for the past 5 years and the resultant rental reality yield. Then show how the current price/rent equation delivers better than rental reality. I'll be calling Navra's offices to get this work up done for the postcode we've settled on just to be sure I can put a tick in this box. 2. Other selection criteria: In a similar vein, it might be beneficial to have a proforma checklist of Navra criteria with annotations around each for proposed houses or estates if you want to stay less specific. All of the information provided was verbal and we spent a lot of time trying to scribble things down to get our own checklists done. We also took lots of photos and came home and compared and contrasted the pros and cons of all the options put to us. If we could have had a one or two page summary for each property prepared in advance with a picture in the top right corner and the Navra criteria annotated, then this would have made our job a lot easier on the day. We could have then just scribbled our own additional notes on the back and not had to have started from a "blank" sheet of paper. The vendor for the Kuraby estate called "Oz Invest" did this and it was a very professional set of documents with floor plans and prices/rent comparisons as well as all the other attributes of the area. Navra would benefit by providing this level of service to their Service Level 3 clients. That's it. All in all, we're ecstatic. Just need to go through the motions now to execute the transfer, get the blinds/air con installed, and then get a tennant in. I'll post again in this thread to keep you appraised of how it all pans out. Particularly around actual rent realised versus our $360 target. Cheers, Michael. PS Sorry for the war and peace post, but I hope some of this is of benefit to others considering taking the Navra assisted path.