I couldn't work what to do, so I post the question here:
My PPOR is a bit too small so I want to buy a bigger house as new PPOR. And I also want to rent out current PPOR. I almost paid off current PPOR. I don't want to have huge loan on new PPOR. So, what are my options. No point to have a huge loan on PPOR while having positive gearing on IP.
I was thinking to sell current PPOR to my company then use the money to buy new PPOR. Then I buy back the property (current PPOR) from the company as a rental property. But this would cost a lot money.
Any ideas would be appreciated.
My PPOR is a bit too small so I want to buy a bigger house as new PPOR. And I also want to rent out current PPOR. I almost paid off current PPOR. I don't want to have huge loan on new PPOR. So, what are my options. No point to have a huge loan on PPOR while having positive gearing on IP.
I was thinking to sell current PPOR to my company then use the money to buy new PPOR. Then I buy back the property (current PPOR) from the company as a rental property. But this would cost a lot money.
Any ideas would be appreciated.