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  • Profile photo of mimimimi
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    @mimi
    Join Date: 2009
    Post Count: 4
    July 31, 2009 - 2:32 am

    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, though)

    Thanks,
    Mimi

    Profile photo of mimimimi
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    @mimi
    Join Date: 2009
    Post Count: 4
    July 31, 2009 - 12:45 am

    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

    Profile photo of mimimimi
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    @mimi
    Join Date: 2009
    Post Count: 4
    July 30, 2009 - 11:43 am

    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

Viewing 3 posts - 1 through 3 (of 3 total)