Your Questions Answered

Brett
Yes that’s about it but you should remember I do get a tax rebate for depreciation of about $4 to 5000.

Sooshie
I kind of have plans to move and lease out my home so I don’t want to pay off the loan too much as I won’t have enough to tax deduct in the future. However I do have an offset acct which has the effect of reducing the interest. It should only be 2 to 3yrs and I will have enough to offset the debt completely. Then I can take the $100,000 or so and purchase my new home whilst still leaving a large mortgage on the IP which would then be tax deductable. Hope I have Explained this clearly.
Ps The mushroom thing is I feel like I’ve been working in the dark. I’ve only just found these forum sites.

AD
Well my goals change as I learn as to what is achievable.
My first IP I thought would be the only one for about 2 to 3 yrs and cost about $90,000 now I am purchasing about 2 a yr for around $200,000 each of course capital gains make most of this achievable but who’s to say the current climate will last.
Overall I want to retire early or atleast take a seachange and retire comfortably say $80,000/yr.

Thanks for your input.