Hi Guy's,
I am looking for other points of view. I currently own 2 IP's in Darwin that have both just become CF+ due to the reduction in interest rates as well as high rents. They are literally just a few $$ ahead but CF+ nontheless.
My PPOR is in Adelaide and I owe $225k on it.
Question – Get stuck into my PPOR loan or borrow against the IP's and buy another property. I know it's a hard question, some other thoughts would be good.
Cheers
Ash
i would be buying as much cashflow pos property as possible now while you can. let time and capital growth look after paying for your home unless you are nearing retirement.
You may wish to reduce your PPOR interest costs by putting money into an offset account linked to your PPOR loan. This gives you flexibility to either pay a chunk off the PPOR loan with the saved offset account balance or use the money as a deposit for another investment property in the future.
Thanks for your comments – think I will buy another property.
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