Hi Guys,
I am excited as I have been given full approval for my second IP, paid building and Land deposits and am awaiting settlement for a dual-occupancy house build which will be done in NSW.
I should have enough cash to pay the rest of the deposit by settlement and I will pay LMI. I also have approval to pull about $60K worth of equity out of my first IP.
I would like to get a third IP sooner rather then later, so I was wondering if with this opportunity I should continue to pay my deposit on the new build with cash, but take advantage of bank approval to pull out the other $60K and put back into Offset for IP1, so it is ready and waiting for a IP3 once I am happy where IP2 is at?
Thoughts? and of course thanks for taking time to read.
Cheers
I am excited as I have been given full approval for my second IP, paid building and Land deposits and am awaiting settlement for a dual-occupancy house build which will be done in NSW.
I should have enough cash to pay the rest of the deposit by settlement and I will pay LMI. I also have approval to pull about $60K worth of equity out of my first IP.
I would like to get a third IP sooner rather then later, so I was wondering if with this opportunity I should continue to pay my deposit on the new build with cash, but take advantage of bank approval to pull out the other $60K and put back into Offset for IP1, so it is ready and waiting for a IP3 once I am happy where IP2 is at?
Thoughts? and of course thanks for taking time to read.
Cheers