Ok, he gets it now and that hurdle is over.  Now for the next one!

For me, this is the most confusing part about entering the IP game, for the moment.  I would like to learn more about this.  What should I read?

That's why I am here looking for advice and clarity.

The budget is about $250k depending on what we find. 

Ok, my partner called the bank to talk about seperating the loans.  They said we would need to borrow $50k from our PPOR equity for the deposit for a seperate loan.  They said then we would only be able to tax offset $200k of the IP, not the full $250k of the house.  Is this the standard situation?

Wow, where do you find houses like that?

I did up our bathroom on a quarter of a shoe string. I painted the walls with mould resistent paint and put cheap bunnings lino over the 50's tiles.  I am surprised at how well it came up.  Definately easier to live in now.  The lino cost about $20 and the paint was free.  A vanity can be bought at auction for about $100.This is my makeover whi…[Read more]

We don't have a broker. The loan has been pre-approved from the bank using the equity from our home.  Could you please explain this to me as I am a total dummy when it comes to this part. " Bank dont cross collateralise the securities otherwise they may just lend against your current e"quity and you be unaware that the valuation came in less t…[Read more]