Good morning all, First post on the forum, hello to all of you. I'm very excited to be buying my first property and I was hoping for some guidance, input and/or advice. First, some facts. I have a deposit of $105k. I'm currently discussing my mortgage options with a broker. I would like to buy before the end of 2015. I'm single and I currently rent in inner city Sydney - share house, very affordable for the area ($260 p/w). I currently earn $130-150k. My goal is to start building a property portfolio. In my mind, buying my first home in Sydney is the wrong move. I grew up on the Northside and would like my first place to be close to family and friends. I would end up with a huge mortgage buying somewhere I want to live. I could most likely service a mortgage on a 2-bedder, with renting the second room out, but it would make a large dent in my monthly paycheck. The alternative is to buy an IP with an interest only loan, maybe slightly negatively geared for now, and pour my monthly savings ($3k+) into an offset account/redraw facility. Once i've saved enough and the equity from the first IP can be realized, I'd buy another property. Another option is to split the deposit and buy two properties at the same time. If only buying one, I'd like to limit the capital investment to keep the cash liquid. The second option is probably the riskier, but offers more flexibility. I'm happy renting in Sydney for now if my money is going to work harder for me in an IP (or two). Keen to hear your thoughts. Also, advice on areas I should be looking is welcome. Thanks.