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Thanks Andew_T that makes sense. So overall i think there are pros and cons for both, i guess if your prepared to take a risk with a more expensive property, the rewards are greater (should you pick the right property and area :P )

Interesting points, i agree with the fact that investing low allows for more hunger in terms of short term. What if lets say a property is bought at $350,000 and 2 years later it is evaluated at $400,000, you would then be able to use that $50,000 towards a deposit for a 2nd IP, is that correct?

I have parental guarantee, so LMI is not an issue for me thankfully and i can borrow the 90%. I have mentioned on the other forum that the area im looking at is Seddon/Footscray. I have always thought these are great areas for capital growth, but has the horse already bolted on these 2 areas? It...

Thanks for the replies so far, appreciate the info. I guess i was asking because the property im looking at going for is an apartment.. Similar to start-up, im on about $50,000 per year, no debts and have around $40,000 saved for deposit, so i think im going to go for the property in the mid...

I'm looking at buying my first IP at the age of 26. A lot of people tell me you should always start low in investing, so as to get the hang of it first. However the property im looking at is around $350,000. What are people's experience in buying their first IP? Do you really need to start low...