Margin Loans First margin loan

Hello,

I inherited some shares a while back and have decided to use some of them as security for a 60K margin loan (geared at 50%) to be invested in blue chip aus shares and a small amount in 2 managed funds (property and overseas shares). The size of the loan is based on what I can pay back on an average income and I guess, from reading this forum, reasonably conservative since this is my first experience with leveraged investments.

I fall into a fairly young, mobile, committment phobic demographic and feel I am basically locked out of direct property while I stay single - hence like the liquidity of shares.

I could leverage myself a lot more and still have securities to transfer across in the event of a margin call. But I would not be able to pay down the loan on my income in this case.

What is the best way to use margin loans - pay off the capital similar to a property investment or just the interest?

I have read several posts from people on this forum who are in margin call and leveraged to 80% - is the result of fool hardiness or do most margin lendees stretch things to the max?

I'm not particularly risk averse, just getting the feel for this investment tool and would appreciate any comments from those with more experience.

Thanks in advance