Hi Guys,

I am currently in the same boat Jekjoy in that my fiancé and I are unsure whether to buy PPOR or IP first. We both live at home with our parents and I am fortunate to not pay board by helping out around the house. Hence I am able to save quite substantial amounts every month (I am payed monthly). My current financial situation is as follows:

Base Salary: $75000 p/a

Savings: $80000 approx. 

I am completely debt free as we speak. I live in Adelaide and hence have been looking to purchase there however from what I have read on these forums everyone seems to suggest otherwise. Basically i was hoping to find an undervalued property, renovate as smart as possible, have it revalued and then hopefully draw on the equity made to fund the next IP. My only problem is no matter how hard I study the market or read literature, I cant seem to find or act on any property. Therefore are they any suggestions people can give me or even assist me in finding my first property?

In contrast do you guys recommend buying a PPOR before purchasing an IP? Also I have read numerous literature suggesting to finance the IP as interest only, but wouldnt it be better if you were going to hold for a long time to reduce the debt? For example say I buy an IP and keep it till I retire (this is purely a scenario) wouldn't it be better to have it payed off rather than only have access to its appreciation over time? 

Any advice is greatly appreciated and sorry if these questions seem amateur. 

Cheers,

Scott