Hi guys have a scenario I have been running in my head for a little while and would love some feedback... not exact figures but easy numbers.
-INVESTMENT PROPERTY 1
300k loan interest only with 300k sitting in offset account
-INVESTMENT PROPERTY 2
300k loan interest only with 300k sitting in offset account
-Want to purchase PPOR for the amount of 600k how would I best do this?
*I am under the impression of setting up a new loan interest only with offset account like above Ips.
1)refinance Ip for 20% deposit for ppor using the banks money instead of mine. (under the impression this would not work because this could be cross contamination of personal and investment?)
2)take money out of investment offset account for 20% for ppor, once loan is funded take all money out off investment offset accounts and put it ppor offset account, making investment property negatively geared and tax deductable again?
What would you do in this situation... and feedback would be greatly appreciated thanks in advance.
-INVESTMENT PROPERTY 1
300k loan interest only with 300k sitting in offset account
-INVESTMENT PROPERTY 2
300k loan interest only with 300k sitting in offset account
-Want to purchase PPOR for the amount of 600k how would I best do this?
*I am under the impression of setting up a new loan interest only with offset account like above Ips.
1)refinance Ip for 20% deposit for ppor using the banks money instead of mine. (under the impression this would not work because this could be cross contamination of personal and investment?)
2)take money out of investment offset account for 20% for ppor, once loan is funded take all money out off investment offset accounts and put it ppor offset account, making investment property negatively geared and tax deductable again?
What would you do in this situation... and feedback would be greatly appreciated thanks in advance.