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Thanks Terry + Jess. So our broker is knowledgeable but doesn't appear to agree with using property as a wealth building asset. He also sees LMI as a major cost and strongly encourages meeting the 20% deposit as not to incur the LMI costs. My wife and I have also recently started new jobs so...

Sorry Terry, what does that mean?

It very well might be! They've paid off most of their mortgage but my father in law wants to move to a more lively suburb that seems to have an average house price of 2.5m. If they can't borrow the money the idea is for them to put down the deposit while we take out the loan. It's just a thought...

Thanks for the replies all! I'll definitely try and ask about building a portfolio and see if the broker's suggestions are sound. An area that my wife and I just talked about was building the wealth of not only our assets but that of our parents. My parents do not have any property or...

I'll be meeting up with a broker tomorrow that a friend has referred. I wanted to get an understanding of what is means to properly setup the financing structure for the long term. I've read on different threads that if you screw up your structure with your first purchase it can limit your...