how to purchase new PPOR

[DebtEquity]

Hi i am interested in buying a new ppor but don't want the debt to big so i can pay it off quicker.

Currently have 1 ppor and 1 IP crossed loans. Value of PPOR is about $540k with $200k owing and have IP worth about $380k with $448 linked to it including LOC so total is $648 owing.

I am wondering how you can you can buy a new ppor by trying to get out the extra equity if i was also to rent out my current ppor as a IP and then buy another PPOR.

anyone here show me how to do it? i have heard about selling to a trust etc or selling to your wife and then borrowing again against it. any ideas anyone!

thanks

 

[alexlee]

Are you talking about paying the PPOR loan off quicker, or converting it into deductible as quickly as possible? There's a big difference.
Alex

 

[DebtEquity]

Hi Alex yes i want to turn the ppor debt into deductible debt as fast as possible but not sure which way to do it. what is the best way any ideas?

thanks