I've done a lot of penny pinching for most of the last ten years and now have approximately $200k. I'm 30 earning approximately $80k, I'm not expecting my remuneration to increase significantly from here on and am keen to work towards earning a passive income so that I can achieve more financial freedom. I'm looking at using $100k on a $500k IP villa unit in the northern suburbs in Melbourne (Preston/Reservoir) this year, will leave the rest in an offset while hoping for capital growth so I can buy my next IP in the next few years. Based on initial inquiries with banks, $400k-ish is unfortunately about the upper limit I can borrow based on my salary. Am I on the right track? How would you go about investing approximately $200k?