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Tentatively looking at Canberra, but really have no clue about anywhere else. Not saying I'm not trying to learn though, but there's a pretty big knowledge gap. Sydney is starting to really scare me. If hypothetically I were to buy another one, and with currently an almost fully offset PPOR...

update (almost) 1 year on... I just wanted to provide an update on how this has turned out 1 year later. Recap - IP purchased for $450k, borrowed all + stamps etc ($468k). 2 loans - $108k variable @ 4.44%, $360k fixed 5yrs ending Sep 2019 @ 4.89% (dang, fixed too early!) Year to 30 June...

This above discussion is starting to go over my head. I get the gist of it, but it sounds like it could go pear shaped quite quickly if you're not careful. Thanks for the kind words!

Nope. Bank was pretty quick to fund the loan, didn't have to touch offset funds for the deposit (knocked the dep down to 5% too). Like I said, I've learned something from all the wise heads here who keep shouting not to do various things :) I think the ATO takes a dim view of that doesn't it?

Not clear enough? 250k is against the PPOR. So PPOR has 2 loans (250 non- deductible & 108 deductible). Yes, offset funds are against the 250 non-deduc loan. Rent money isn't going anywhere yet. Prop hasn't settled.

Hi I've been lurking here for a couple of years, mostly because I've felt stupid in the company of so many with buckets more experience (been wondering actually if that is a problem in getting more noobs on here to participate hmmm). Finally got off my lazy butt and bought an IP. I'm happy...