Boys! I'm confused!
I currently have a mortgage of about $350k with $140k+ equity available, i'm living in this house. I have around $15k in the bank.
I'm looking at buying an investment property for around $100k. With this being positively geared ofcourse.
As far as tax offsets go, my understanding is you are just deffering the debt anyway so better off creating cashflow, yeah? So I'm not worried about that but not understanding what to do with the cash I have saved and then whether or not to use the equity? what sort of loan to get on the investment? how long i have to own the investment to get away with the CGT?…etc
I'm a begginer obviously
Please help me with all of your wisdom…
Ta
Trace