Hi folks, My wife and I are in our mid 40s and more or less starting from scratch. We are renting and only have 15k currently aside toward a deposit. After many years of single income we now have 2 FT incomes and it looks like we can put aside around $2500/month. We are currently happy to keep renting cheaply and try to get an IP hopefully followed by more. We have been thinking about looking for a house in Frankston, but to get in there in the low 400s means we are going to need to save in the vicinity of 80k (assuming borrow 88%) which will take us at least 18-24 months to save. My best friend has suggested we consider buying a place with them as a way for both of us to get a foot in the door. His proposal is that they borrow against their PPOR whereas we would borrow close to the full amount of our half. His suggestion is then we can go higher than the 400k price area because their equity covers the deposit. Does this even work? Or do my wife and I still need cash to cover the 10 or 12% deposit on our half of the loan? Apart from the risk of personality clashes and disagreements, are there other things I need to be wary about with an arrangement like this? I don't even know the details of how this could be set up. Any feedback would be great. Thanks. PS. If we don't do this, alternatives are simply waiting until we have a big enough deposit, or buying something cheaper (unit instead of house, or looking at regional areas) so we can get moving sooner. I guess another option is to see if my parents could loan us enough for the deposit, but I'm not sure if this is viable or advisable.