My friend actually used her parent’s house as equity to purchase her own house. I wouldn’t recommend. Best course of action would be to keep properties seperated as much as possible. If you loose one this domino affect will impact your other homes.
Good work Teacher. I’m not far behind you. I recently did something different and decided to sell a unit in Sydney just because we had spent the time to renovate it. It was in a prime area because of the hospital, train station, university and sat out on the urban fringes of Parramatta. We sold that to raise more funds and actually got into a dilemma of what to do – buy property or use it to fund a lifestyle. We funded a lifestyle and got a new car which replaced a badly worn almost broken car.
About 5 years ago I went to their seminar where they had a guest speaker mother who in 3.5 years paid off her mortgage via property investing. This rolled into a Country ‘sale pitch’. Otherwise the experience was enlightening. My friend bought some property off them.