welcome pilbara boy, what a great position to be in. First of all do you have equity in any other property? as you need 20% deposit for your IP, depending where you are looking to purchase,you may need to save a larger deposit. As i see it you have a couple of options. You can use your $20g savings to pay out the car loan which would then enable you to save around $2800pm. If i was in your position my preference would be to see if my parents would allow me to use their property as security for the 20% deposit and buy in a good growth area. Soon as the property increased by 20% i would transfer security so their house was no longer encumbered by your IP. Then you could pay as much as you could in extra repayments to build up equity in the IP so you can then purchase another IP. Then when you are ready to purchase your own home you will be able to sell both IPs and keeping some money aside for capital gains tax, you can use all of the equity built up in the two IPs for a deposit for your home. There may even be enough to buy a home outright. Hope this was helpful,  Philb.