My partner works also so it would be a combined wage of $140k approx. Do you have a link on that so I can take a Look?

Awesome thanks for that. That makes sense. How do people get the money to pay 10+ property rates etc if it’s negatively geared?

Thank you so much Il follow up with her as well. Any advice helps I want to get it right the first time around and know what I’m doing.

Ok great. I’m assuming/expecting not to make any money from the IP unless we sold it or owned it outright while its being rented. Is that normally how it works? We just want to be set up for the future it doesn’t bother us if we arnt making a cash flow. Ive ordered a few books to read up about all this stuff too!

Ok great thanks. I don’t mind if I don’t get a cash flow but want it positively geared enough to cover the loan repayments or at least close to it.

Ok great thanks heaps. I’ve purchased a couple of books to help me with investing. Generally how often do people buy properties to add to the portfolio?

What are some websites I can use? Is there any IP brokers in the Doreen area in Melbourne? Do they cost anything for advice? Sorry about all the questions

Appreciate any advice :)

Should I meet with a broker for face to face advice? My goal is to be set up for early retirement and some security. I’m not sure how to go about calculating taxes, capital growths etc before purchasing..

Ok so the best option is to top up and use that money towards a new IP? What are some good suburbs to buy IP in Melbourne/vic or il even consider interstate for the right property. Is positive gearing common?

Yeah it’s a separate loan for the LMI.
If I have 60k equity and use that to take out another loan does that top up my current loan for the house I’m in now or is equity just used as security and held against the new property without it actually being taken out? Hope that makes sense

Thanks for that. Its slowly getting to my head. We want to rent our current house as it will be too small when we have kids we only built this for a starting point to gain entry into the market. The LMI is 10k and we pay $260 a month over 4 years for that but can pay it sooner if we wish. If we only use the equity in this property to purchase…[Read more]

Hi kinnon, I have no idea :( its something Il have to check out. I’m also paying LMI. We plan to rent it out next year so there will be about 20k or 30k equity. I’m gathering info now so I can learn how it all works so I can make smart choices. We will need to buy a place for us to live in when I rent out the house we are in now.

Thanks for the help! What do you mean by interest only? I’m only starting to learn about this stuff so I’m smarter in the future. Is is it smart to only use equity to purchase another property?

also im 21 and earning 65k a year in real estate but im not an agent.