Hi all,
1st post from Sydney Australia.

I dont know if anyone can help me maybe there is a property investor on here.
What is the best type of loan for an investment property??
Ive found the house it's $288,000 and i have the 10% deposit of $28,080 but i want to find the right loan im leaning toward an interest only loan.

It will rent out for roughly $350-$370 p/w and the loan repayments will roughly be the same, And i will also pay a bit of the loan out of my own pocket every week im thinking around $500 myself to get the loan down ASAP so the loan will have roughly $800-$900 paid of it every week.

Now here is my question if i get an interest only loan is it possible to have the rent payment pay of the interest and my contribution to pay of the principle???

Or can anyone not can anyone recomend a better way to get the loan amount down ASAP

Thanks in advance.