Thanks for the replies guys,If my dad was going to help, he would just give me the money upfront for the deposit and other charges and I will have to get into an agreement with him to pay it off in installments ( from the rent I earn from the property).  In this case, would this payment to my dad be considered as a cost of the investment as well?…[Read more]

Hey,I'm thinking of getting my dad to join me in this venture. He would provide the cash to get me on 80% LVR so I don't get hit with LMI (which is a lot for this property) and I service the loan.  This way we can split the rent someway. This brings on another question, whats the rent value I put in my tax return? My proportion or the entire…[Read more]

Thanks for the info PI freely,I should add some more details to the situation.The new house my mom bought (where we all currently live)  was bought with a bridging loan where she put the house I am interested in on equity.  So she is currently paying interest off the mortgage, thus she wants to do this asap too ( the bridging loan was taken out f…[Read more]