Colin, email sent.

How about pay back your parents the 50k.

Sell it, pay off that business debt, get your wife working, she can easily make 45k a year, pay off your mortgage.

Its going to be intersting to see how the market reacts tomorrow.I cant really see house prices going up in the next few years, more than likely down.

Sounds easy doesnt it.

He is a skilled software engineer, so its ok for him, hes moved onto a job paying 120k base, potentially he can earn a lot more.Hes happier as well.

Your not the only one, my brother just closed his small business of 9 years.

500k in equity and 30k in the bank is not starting out.Think of a young person who has nothing having to buy in an overpriced real estate market.

4jojo, do you get paid to do your job?

Cool topic.Goals for 2011:1. Looking for IP number 2 this year.2. Negotiate a pay increase.3. Deadlift 220kg, Squat 180kg, Bench 150kg. haha.

My wife was not as motivated as me. When she was in hospital delivering our third child I bought our first IP. Was she pissed ,yer a bit, but now shes happy, and shes telling me where to look for real estate.

I sat through a presentation from Momentum, and I have to say, I liked what I saw.The cost was $12,000, but that was the full package of finding through to settlement.I did not use Momentum for my first IP, and I'm currently looking for my second IP.

If it were me, Id pay down the 20k on your PPOR then use that as security for the 20% plus settlement costs.Take out a second investment loan with the IP as security for the remaining 80%.If you do buy the IP now, pay down all non deductible debt first.

Knock on his door with a bat and the bill. haha

Cool Draxonic.

x2, get rid of it.

Draxonic, looks ok to me, except you forgot your full name and contact details.Moderators, I feel your pain.

I'm still confused about how you get to sell properties your mates dad owns, your obviously not an agent.

Corie, doesn't a LOC also attract a higher interest?To answer majorising, it doesnt matter where the money comes from, all that matters is what it is used for. So it would still be deductible.I'm still all for separate loans for each IP to make everything easy.

I don't think thats what shes doing.What she is doing, is buying property, renting them out and renting out another property to live in, a property not her own.