I am just beginning my research into purchasing property and I was hoping to get some advice about the pros and cons of buying a PPOR vs IP first. Ultimately, I would like to own my own home as well as be earning income from several investment properties.
At the moment, I can't afford to buy a PPOR in a suburb I'd ultimately like to live (unless it was a studio apartment, and that is *not* the dream). But I have read that if you take funds/equity from an IP to purchase a PPOR you lose the tax benefits. But the longer I wait to buy my own place, the longer I waste money on rent.
Any advice you can give would be very much appreciated. Thanks in advance!
At the moment, I can't afford to buy a PPOR in a suburb I'd ultimately like to live (unless it was a studio apartment, and that is *not* the dream). But I have read that if you take funds/equity from an IP to purchase a PPOR you lose the tax benefits. But the longer I wait to buy my own place, the longer I waste money on rent.
Any advice you can give would be very much appreciated. Thanks in advance!