Hey Alex,

Sounds like you have a few things on the go. For me I look at cash flow and that is key in my opinion.

In any situation you can get millions of dollars in debt but if you cannot service the loan its game over. So at your age you don't want to do that.

You need to ask your self why aren't you able to get a deposit. Given you earn a good income you are trying to do a lot of it by yourself. $2500 pm *12 = $30,000 deposit is very doable.

Also what is your goal- Capital growth? Have you done the research in the area your looking to buy?

Your issue will be the servicing capacity and given your partner is not able to help you with being on the loan. Given the loans/ etc.

Banks normally now require you to have 5% at the very least and yes you can have strategies to get money via personal loans/ gifts etc at the end of the day when push comes to shove you do have to "repay" them.

The other thing to remember when buying property is that other costs / things like insurances, maintenance, accounting fees and all these little things add up. You need to be comfortable that you are able to handle these aside from the deposit.

Once you have sorted these items out and know how you are going to fund the deposit you will have some savings built up at the very least. Also remember that Stamp duty depending on the state needs to be paid for out your own money. Yes you can use a credit card to pay for it but again, you have to pay this back and it all affects your cashflow.

True if property prices move very quickly and you make a huge capital gain fantastic but its all about cash flow. If you have the cash flow to do this your laughing.

I hope this helps.

Cheers

Sean

In regards to using Super/ SMSF to buy property. it is not as straight forward as people would like it to be especially in the residential property side. So Be aware of what your getting into if your going down that path. Commercial property investment in SMSF is more plausible but still have to consider the opportunity cost of alternatives.

Hope that helps!

Double post – timed out

It has been a long time since I have posted and thought I would add to this.

Definitely the 10% rule works and prioritizing is key!

The points made about saving in the bank is valid however if your looking to invest it into property your not going to hold it for very long? All depends. For me I think its a good way for me to build up builds. The interest earned in thea account mearly helps your money keep up with Inflation. Unless you were lucky enough to get a long term deposit on an extermely high interest rate and even then it doesn't last forever.

Thanks Anglin for your words of wisdom. Sorry its taken me so long to respond.

Interesting thought but how dodo you build up funds for investment in the first place if you cannot save?

Need to start some where. I agree what you do with the money is important. I have definitely learnt something from the post and your blog.

Cheers

Happy to help !

Geez thats one of the worst things someone you love can do to you ….

"If you care for me you will do this for me… I mean come on …."

All I can say is take independant advice, so that you make a decision thats best for you and not based on your emotions.