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More good advice. I will look into the buffer option to minimise out of pocket expenses. I can also understand why some people have issues holding large amounts of money in the offset accounts. It works for me though.... As long as there is no card attached to the account, it makes it pretty...

Great, that makes sense. So when using existing equity to purchase an IP, could I include all my purchasing costs and fees into the borrowed amount? Also, I presume by doing this there are tax benefits and deductions that are claimable?

Thanks Jess :) I plan to live in my PPOR for at least another few years, after that it's hard to say. I'd like to keep my options open at the moment. Can you explain how an IO loan gives you more 'control'?

Thanks for the reply Colin. You are suggesting having the IP loan as IO to get the most amount of positive cash flow from the property? My PPOR loan is with Bankwest. I will get a bank val done in the next month or so hopefully, and the result of that will tell me if I need to move some funds...

Hi all! Long time lurker and observer here. I am about to start the process of buying my first IP in Melbourne, and want to make sure I set things up the best I can now. I have done lots of reading here, but could do with some of your opinions as well. I don't have much of a long term...