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From: Mike .
Spare Money: What to do with it
From: TW
Date: 6/10/00
Time: 11:53:28 AM
I currently have 2 investment properties and am renting the place I live in. We don't have enough income to borrow for our next property (wife currently not working), but I have plenty of money left over ($15,000 pa) which I am currently puting into the P&I loan of one property.
My Question is: whould it be better just to pay interest only and save the money for a deposit for the next place or should I keep paying off the loans as fast as possible (tax deductions will decrease)? Thanks
TW
Spare Money: What to do with it
From: TW
Date: 6/10/00
Time: 11:53:28 AM
I currently have 2 investment properties and am renting the place I live in. We don't have enough income to borrow for our next property (wife currently not working), but I have plenty of money left over ($15,000 pa) which I am currently puting into the P&I loan of one property.
My Question is: whould it be better just to pay interest only and save the money for a deposit for the next place or should I keep paying off the loans as fast as possible (tax deductions will decrease)? Thanks
TW
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