Advice to first home buyers

As a Dad , finance professional and a mortgage broker - this is some advice that I have given to my children on how to start building a property portfolio.

Scenario 

homebuyer has a $30k deposit and earning a combined $180k 

Use the 5% deposit scheme to buy your first home now.

The scheme offers no LMI, no stamp duty in most states, and suits their income (they’re under the $200K cap).

With their $30K, they could buy up to $600K .

They could rent out rooms to help cover the mortgage, reduce their debt, and add value through cosmetic renos.

Once their loan-to-value ratio hits 80% -  refinance, rent it out fully, and use the equity to buy again.