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thanks bundy, but i wasnt thinking of drawing down the money but rather using the equity to borrow 100% for the new ip. probably missing something here but sure i will get wiser with time :) julie

what nasty tax surprises are we talking about here? less interest to claim on the IP loan? julie

our interest only loan allows us to redraw. Something that im not sure about though is if we redraw the 100k, can we then claim the interest on the full loan again giving that these were additional payments or not? as for or ppor, we currently live in one of ben's parents properties -works...

we have this property that we purchased for $369k in dec 99. a similar one in the complex recently sold for $440k. Initially, we were getting $470pw but with the softening rental market we are now getting $420pw. the property was finance with 2 loans: 1. $295.2k IO @ variable rate 2. $73.8k...