Hi All, A bit about me. I moved with my husband to Australia from Venezuela 5 and 1/2 years ago. We came with probably 8k, limited english and no jobs to try to improve our quality of life in this beautiful country we now call home. We are both professionals and had worked hard in saving and educating ourselves in property investment for the last 2 years so when we had enough for a deposit, we decided to buy an IP instead of a home so we can provide for ourselves in future. We bought our first IP early this year in Brisbane. Now, for 2nd property, I am torn between two options one being more risky than the other IMO. Our original plan is to buy and hold but I have this burning desire to renovate and hold since I believe it is a great strategy especially in this economic environment. So I am considering some things: Option 1 a) APRA might affect our capacity to buy more IP in the near future. We don't own a home so it might be easier to get a loan if you are applying as OO. b) If we decide to buy as OO to renovate, then it would have to be Sydney or surrenders so we can move in and do the reno little by little while we learn (never have done a reno before) then move out and rent it out. c) Worry is: Sydney is at its peak or past its peak and low yields. (Reno should improve yield and create some equity that would compensate any slowdown of the market). d) Benefit: property in a city always demanded that eventually come back. Option 2: a) Buy somewhere else and hope for growth. No chance to do a reno. b) Might be hard to get a loan due to APRA regulations. c) Wait more time for the Brisbane market to get hot and then buy more. Is option 1 to crazy at the moment? Thank you in advance for your insight.. How you see Sydney market moving forward??