I said we've had no debt for 30+ years, should have been 10+ years as we have owned our PPOR for about 10 or so years and not used the extra income on anything other than living expenses. Mind you, our repayments were only about $96 per month back then We are on average incomes, ie $55K combined, enough to get us by for now even if we put a…[Read more]

That was another issue that we hadn't decided on, whether to do a tax variation to increase the cash flow now, or claim it in one hit at the end of the year and put it back into the LOC for future draw downs. Guess it's six of one, half a dozen of the other whichever way we decide to go. I was looking at what would be the best, to use our own cash…[Read more]

Hi Terry, I understood that this was the way of many investors who are perhaps cash flow restricted, and I'm not sure what you mean by interest on interest?Jenny

Hi Nina, it's never too late and as you are only in your 40s you have plenty of time. We are way past that, my husband is 60, I'm 52 and we only started investing in IPs last year. Bought our first one 12 months ago and have just settled on our 2nd on Friday this time sharing with our eldest daughter.Admittedly we did have our own PPOR, but never…[Read more]

Thanks Mikala, Simon and Maria for your very important comments. I can see we still have some homework to do and namely getting a valuation on our own home to find out exactly what equity we have.

We only have a couple of brokers in our city so I will endeavour to suss them both out. I believe we don’t have to go with a local broker either and as…[Read more]