first property advice

[smoothdesire]

Hi Community,

Im looking for a bit of advice, im looking at buying my first property and investment property, if you had 500k to play with what would you advise? ...eg. buy the house im gunna live in cash and use the equity to buy IP's.. can i get first home buyers grant if i pay cash for my first house still?
If you where in this situation what would you do?

 

[Gentle_Chief]

1) Put a 20% deposit and buy your First Home
2) Avoid LMI As you have a surplus
3) Look at 600K maximum for PPoR
4) 20% of 600K = 120K
5) To buy your PPoR you need 120K + Stamp duty etc = 160K
6) Invest your 340K buy 4-5 properties out west with 80% Lend

 

[esh]

Wow. I'd love to have $500k to play around with. Get something u can add granny flat to. You only get first home owners grant for new houses. It will be hard to find a cash flow positive for new houses

 

[Colin Rice]

Serviceability permitting borrow 80% and park the remainder in a Iinked offset.

You will be eligible for FHOG regardles.

Get advice from an MB on correct loan structuring to enable you to progress unhindered.