1. P

    Financing a renovation to IP

    Hi, I have a LoC that I intend to draw on for a deposit on an investment property. However, I also need funds to undertake a renovation to the IP. I intend to claim the interest on the LoC in my tax return as the purpose is investing. If I were to use the LoC for the reno as well, can I...
  2. K

    Loc investing questions

    Hi, I'm looking for a little advice on whether a loc loan is the right way to go or not. We currently have a fixed rate loan of on PPOR and a interest only loan on a block that is currently being built on. The investment loan is secured against our PPOR. I'm about to purchase another...
  3. T

    How to spend a LOC... on IP expenses or on an investment (shares etc?)

    Thanks to what I have learned on the good ship Somersoft... I have taken out my first loan split and LOC. I didn't realise it was so easy to access equity. Should really have done it earlier and purchased IPs with equity, but there you go, lesson learned. I'm starting to understand how people...
  4. V

    Should I Split My Existing LOC for 2nd Property ?

    Hi All, I have one negatively geared property, that has $75,000 outstanding on a Line of Credit (LOC). As well as a separate investment loan of $350,000 I am in the process of buying a second property, this one will be marginally cashflow positive, only to the tune of plus $5 per week. I...
  5. malcomb

    Using super to pay off LOC

    Hi all, I'd appreciate some advice on my situation: We own our PPOR(value $450k), and have an IP (valued at $400k). IP is subject to an IO loan. LOC is currently set at $120k, with $80k owing on the LOC, ie $40k buffer. This year I can claim my super, which is a measly $90k. I'm still working...
  6. Joh

    "Borrowing Funds" from Personal LOC for Investing

    Hi All, I have just a quick question. Even though I am mainly about property investing, I want to put $10 into shares however I am waiting for my loan to be approved (I have pre-approval). Are their any tax implications if I took 10K out of my non deductible LOC for investing and just pay...
  7. brendio

    Cash out on LOC?

    Mum currently has no debt, but just applied for a LOC with Macquarie Bank to do some renos on her unencumbered IP (valued at $350k and used as security) and later down the track to purchase us kid's (2/3) share of, relocate and renovate the PPOR (also unencumbered, inherited from grandparents)...