“How much do I need to get started?” is one of the first questions every investor asks. The honest answer: it depends — but understanding the moving parts helps you plan.
The deposit
Many investors aim for a 20% deposit to avoid Lenders Mortgage Insurance (LMI), but purchases with smaller deposits are common — LMI simply becomes a cost of entering sooner. Sometimes buying earlier with LMI beats waiting years to save 20%.
The other upfront costs
- Stamp duty (varies by state)
- Legal and conveyancing fees
- Building and pest inspections
- Loan and lender fees
Using existing equity in another property is also a common way to fund a deposit without cash. The right structure depends on your situation — which is exactly what a strategy conversation is for.
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