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  • Profile photo of chericheri
    Participant
    @cheri
    Join Date: 2002
    Post Count: 23
    October 8, 2002 - 9:19 pm

    hi AD
    thanks for your reply. i agree that we will not be redrawing on our IP property. we are refinancing our personal mortgage(accessing equity) and setting up a new loan structure. hence the loan will be split to into two accounts, personal and IP. this was where i was wondering whether a LOC loan would be most effective and keep the IP loan fully drawn for tax purposes.
    i am aware that the interest rate will be a little higher, but will a LOC enable us to reduce our personal debt faster.
    hopefully this does not sound to confusing…
    seeya
    rie

    Profile photo of chericheri
    Participant
    @cheri
    Join Date: 2002
    Post Count: 23
    August 24, 2002 - 11:06 pm

    AD
    Thanks very much for your positive words and sound advice. yes, i agree my question was extremely broad, yet just by asking it i feel a little more in control! there is so much to take on board and get our heads around, but we are determined to make a positive difference to our lives. we will be attending steve’s seminar in sydney and hope to gain a better understanding of property investing and the huge benefits associtated with it.
    thanks again
    all the best to you
    cherie
    ps i am going to purchase a copy of John Burley’s book today.[:D]

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