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I am still new to this forum and not sure if this is a good question.
If I have some equity in my IP (say around 100K). Can I use this money (as LOC) to pay the minimum monthly installment of same IP or other IPs?
Thanks,
MDV
Yes, and you can eat your arm to prevent starvation too...
Are you for real? I'm sure you can do it, but isn't this a clear signal to you that you're overstretched?
If I have some equity in my IP (say around 100K). Can I use this money (as LOC) to pay the minimum monthly installment of same IP or other IPs?
Which part of that leads to the overstretched comment?
There are only two reasons to use debt to repay debt.
1. You're absolutely certain of a coming boom, and you need to gain cashflow to leverage higher.
2. You're up **** creek without a paddle.
Hiya Sunder
There are other legitimate reasons too ............
A good example is someone that has PPOR debt. They cap their investment debt, and pay their PPOR debt at a more rapid rate.
ta
rolf