New IP or debt recycle?

Hi
We have just sold our PPOR, currently renting until we settle on land then build. Will be building a PPOR including the land for approx. $540k total.

Prior to the sale of the previous PPOR my finances were:

PPOR loan: $250k – Bank A
Equity loan: $90k – Bank A
Investment loan $450k – Bank B

IP worth approx $570k
Old PPOR sold for $465k

Prior to sale of PPOR I had troubles keeping the $90k loan open – long story.

In the end I ended up having to pay out my $90k equity loan with PPOR sale proceeds.

Therefore I have paid $90k off the investment property and will now have to lend another $90k for next PPOR – non deductable interest!

PPOR loan will eventually be approx $420k in total.

I am thinking of getting some advice but wanted if there were any suggestions on here?

Not sure if I should get another IP this year or look at debt recycling (including possible paying IP loan interest with borrowed money).

Any suggestions?

• This topic was modified 8 years, 10 months ago by  Jimmy.