beyondabundance, my old man did not ask or tell me to look at this plan, i simply took to him as a request and ask he look at it. i am asking for advice here because everyone has their own experiences and knowledge which has already greatly helped me, by making sure im considering all issues and viewing my plans from different perspectives.

please everyone keep the feedback coming, its all great.

the best feedback I can give a young person is:
Always stay humble and teachable and never get to a stage where you think you know it all. I have seen many with that attitude lose everything, for they were not humble and teachable and thought they knew everything and everything was right their way. Not saying you are like this, I was just saying in general.

And have you heard of “copied success”? If your dad is a millionare and so successful, why not do as he does, and get the same result. In NLP this is called “modelling.”

And always remember, the future doesn’t always equal the past!

God bless and best wishes for your future. It’s wonderful to see the young having a long term vision and wanting to create and manage a plan so early on in life. Good on you

ATT: Terry

If I bought my first home with the $7,000 grant and paid another $8,000, total $15,000, What would be the repayment roughly on a house that is purchased for $250,000 with the current interet rates?

Thanks for your help and time.

ATT: Derek

Derek said: That is not strictly correct – I save a bit (a little bit too I might add) on tax and make my money through growth.

Does this mean you are talking about negative geared property here, looking for capital gains? For, else, how can a person save tax on a positive geared property? Is that possible?

So is it true, you either make money and pay tax, or, lose money and save tax?