Hi. Thanks guys for your responses.

Yes the contract has the clause “subject to finance”. This will be our first property and I am planning to get an interest only type of loan.  In this case how can a property move into positevely geared if I am only paying interest? The current tenant pays 350 a week and according to a preliminary calculations the interest only loan will have a monthly repayment of around $1800, so I would have to pay from my own pocket. I dont earn that much only 62000 a year so I dont think I will be able to get a loan by myself without my wife salary (25000), our own home is valued around $550000 and it has been paid off. ah and have to dependants, 8 and 11.

So do you think a  broker should be able to give some good advise or an accountant?