I should have explained further, when I said that I have purchased an Ip using a Loc it was only used for the deposit & legal fee’s etc I have a standard interest only loan for that property.
I paid 235k for the property 6 months ago and had it revalued and the bank said that I can get 105k in a LOC from this property, if I use this as deposits for further properties should I refinance my loan to pay out the LOC so I dont have two interest payments per month.
This property is rented for $330 per week.

thanks for your help
TerryM