Hi,
I?ve got a question regarding a correct financial structure to allow me buying one IP and then use the equity that is gained in the past 3 years.
Here?s my current scenario under single Banking Institutions:
I?d like to know if I should apply a Line of Credit Account (LOC1) that is linked to my IP1 and then use the LOC1 to finance the IP2 and then another LOC2 to finance IP3 so on? etc?
or
should I just leave it under single bank and then link the largest loan to one single offset account ?
Which one is correct ?
Thanks in advance
I?ve got a question regarding a correct financial structure to allow me buying one IP and then use the equity that is gained in the past 3 years.
Here?s my current scenario under single Banking Institutions:
PPoR: None as I?m renting at the moment.
IP1: Regional town 1
IP2: Sydney Suburban area1
IP3: Still looking?.
I?d like to know if I should apply a Line of Credit Account (LOC1) that is linked to my IP1 and then use the LOC1 to finance the IP2 and then another LOC2 to finance IP3 so on? etc?
or
should I just leave it under single bank and then link the largest loan to one single offset account ?
Which one is correct ?
Thanks in advance