Thanks for the advice guys,

Your opinions pretty much all make it clear that the best option will be to get the IP as a stand alone loan and access the equity in my PPOR as a LOC and use that to help fund the next project.

Thanks again,

I understand they arent structured properly but am leaning towards paying the break fee of 3k and setting that loan up as I/O which I should have done from the start.Finance was due mainly they say to a $900 default on a phone bill of my partner from 2006. Even though this default was paid out in 2006 we were told most lenders wont touch our…[Read more]

Thanks Mike,As many have said before me, great report!Thank You,Josh

So in answer to my dilemma, what would be my best bet with financing the new loan which will be approx $485k inclusive of s/d LMI etc?May i be best to sell my property with all the equity and start again with a better structure?Cheers.

Thanks for the quick reply.We are in victoria and i havent confirmed if stamp duty is payable yet.Yes you are right re two of the loans being cross collaterised but it was unavoidable at the time i bought my first IP.If you are right and stamp duty is payable in vic, what other suggestions would you have with how we should best go about it?Can i…[Read more]