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I second the accountant bit. My advice is probably not as relevant as the mortgage on your principal place of residence in Oz is not tax deductible at all, while interest and any other expenses on investment properties are. Further, state taxes and charges differ from one state to another. The exact amounts/sizes of federal and state taxes and deductions is the bread and butter of accountants.
A friend of a friend locally has a set of units in western Sydney. Unfortunately for him, the value of these has dropped since he purchased and he now has quite a few units where the rent doesn't cover his mortgage payments on those units.
I'm also wary of renting something to a family member. If the shit hits the fan (for whatever reason), it is you who is holding the deed on the property. You need to ask yourself, would you be looking for an investment property if your brother didn't need somewhere to live? Assuming he would pay reduced rent, is it the best investment you could choose?
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who hid my keyboard's PANIC button?
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