Hubby and I are in a partnership - landscaping (primarily artificial turf).
I am the one who does the property stuff.
Quick run down as it is all getting very complicated and making me nervous about setting it up right in the beginning:
PPOR - loan with CBA, 2 LOC already to fund entry into investing.
Multiple equipment loans for the business with 2 different banks (not CBA).
Loan for IP's (2 with a 3rd awaiting approval) with ANZ.
The business is growing and we need a warehouse. We have a business banker with the CBA and a mortgage broker for the investing stuff. The business banker wants to put all our business loans (including the new loan for the warehouse) into a business LOC based on the equity in our PPOR.
My question is - what affect is this going to have on our investing? I'm worried about having the business banker go for a LOC at the same time as the broker is applying for another IP loan.
It's all getting ridiculous I wanted to keep the business separate from the investing but it seems a bit impossible. Thoughts?
I am the one who does the property stuff.
Quick run down as it is all getting very complicated and making me nervous about setting it up right in the beginning:
PPOR - loan with CBA, 2 LOC already to fund entry into investing.
Multiple equipment loans for the business with 2 different banks (not CBA).
Loan for IP's (2 with a 3rd awaiting approval) with ANZ.
The business is growing and we need a warehouse. We have a business banker with the CBA and a mortgage broker for the investing stuff. The business banker wants to put all our business loans (including the new loan for the warehouse) into a business LOC based on the equity in our PPOR.
My question is - what affect is this going to have on our investing? I'm worried about having the business banker go for a LOC at the same time as the broker is applying for another IP loan.
It's all getting ridiculous I wanted to keep the business separate from the investing but it seems a bit impossible. Thoughts?