Mel,

Thanks for your post.

What about the idea of being able to leverage off the additional equity I have in the property later (as a result of the renovations) and use that equity to fund my positive cashflow properties then ? In the meantime, I am improving my quality of life as the house will be much better. I should have stated that the house definitely needs money spending on it and we don’t like living in it the way it is now !

Peter.

cheers to everyone who has replied….I appreciate your support. I think this is going to be a great reference site going forward.