mimi replied to the topic Best way to start Ip in the forum Help Needed! 15 years, 3 months ago
Hi Richard,Thanks for that. That makes it very clear but just another question, let's say we would like to buy another property sooner rather than a few years down the track, how does one do it ? Is it wise to borrow 90% or try to look for cheaper properties which in Melbourne is a bit discouraging at the moment.( looked only on the net,…[Read more]
mimi replied to the topic Best way to start Ip in the forum Help Needed! 15 years, 3 months ago
Hi Richard,Is this what you mean?Refinance the PPOR, establish a line of credit, take 20% deposit from PPOR loc, borrow 80% of IP so it is a standalone loan?By the way, how much money do you reckon we might be left with after refinancing?Thanks,Mimi
mimi replied to the topic Best way to start Ip in the forum Help Needed! 15 years, 3 months ago
Yep, thanks for that. I was a bit unsure if the interest on the redrawn money would be tax deductible and you've cleared that up.Now all i've got to do is make sure I understand all part of it