Hi Danny

Welcome to the forum.

You're sitting in a pretty good position.

You're on reasonable incomes and you have a bit of equity in your PPOR to get started.

Obviously this is going to sound biased but your first port of call, in my opinion, should be a decent broker who has experience with IP lending.

Someone you can discuss your goals with, look at the longer term and devise a plan from that.

If it were me – I'd be tapping into the equity in the PPOR and using it as a deposit to purchase the first IP (or two) and avoid using the folks cash. The reason being twofold – firstly, using the equity means the deposit for your IP will be deductible. Secondly, it keeps family out of the picture (which I believe is important when building a portfolio).

Again, welcome aboard.

Cheers

Jamie

Yep sounds quite hefty – I doubt the points will make up for it.

Cheers

Jamie

Hi pale ale

If you do a search on "cross collaterisation" you will find a number of reasons as to why separate loans are a much better alternative compared to crossed loans.

Cheers

Jamie

Hi energy4anarchy

If you prefer the face to face contact – I can recommend Pete Tersteeg from Sage Lending in Nunawading (get in quick though – he's off to Fiji next week and I'm sure finance will be the furthest thing from his mind).

If you don't require the face to face contact – then give Michael above a call. He's more than capable of working through some scenarios with you.

Cheers

Jamie

That's true Paulie – and it's easy to get around the $500 issue with a little creativity.

You can also accept payment into the MISA. We have a MISA set-up against our PPOR – all the IP rent gets paid into the MISA.

Cheers

Jamie

Hard to say.

The CGT calculation will be dependent on your taxable income during the period, date the asset was purchased and sold, etc.

Here's a calculator that might help http://www.yourmortgage.com.au/calculators/capital_gains_tax/

Cheers

Jamie

Hi new2invest

It looks like you've crossed your PPOR with IP1.

I'd look to tidy up that structure first before moving onto the next one.

Cheers

Jamie

Hi Jack

Welcome to the  forum.

I haven't assessed your borrowing capacity but one comment I'd make is that if you do decide to purchase (and if your borrowing capacity allows for it) I'd consider tapping into the equity in IP 1 to fund the deposit/stamps on IP 2. That way, you can keep your $18k cash savings for emergencies (a good contingency fund is a must) and all of your borrowings will be tax deductible.

Cheers

Jamie

Hi Edmund

I don't know much about mentors or mentoring programs but if I was going to opt for one, I'd look into what Nathan Birch has on offer. He posts on this forum and walks the talk.

Cheers

Jamie