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Thanks all for the responses. i completely agree that spending $600k in Sydney doesn't come anywhere near to cashflow neutral... I am most likely going to do what 2bobsworth said - spend about $350k on 1 IP and then buy another 1 yr later. I'm all for time in the market, not timing the market...

You made an astute observation as usual, we were just wondering whether to split the budget up for 2 IPs or not. Is it possible to fall in love with a place based on the name? because I've always thought copacabana was the coolest named suburb :D

Hubby and I can spend up to $600k on IP #1, would be curious to see where SS'ers would buy. Have contemplated Brisbane & Adelaide, but have mainly focused on Sydney (where I live). Sadly $600k doesn't buy much anymore in Sydney! :eek: Would love to know where you'd buy an IP if you had a...