I love this forum ...im getting some really good feedback, thanks guys.
I was just working on structuring my next purchase. My balance is 120k on my PPOR with 90k in redraw. Property value 320k. Ill be splitting my loan into 2 and using the 90k as deposit on my first IP, purchase price approx 400k.
Im thinking of having my IP loan IO so i can focus on paying down my PPOR. Im wondering what you guys think about paying off your PPOR completely as i have the potential to do this within 1 year. Is this the smartest thing to do?
Once its paid off then what? How do i use equity in PPOR to buy more property?
My goal is to buy at least 4 IP in the next 4 years.
Thanks for your thoughts guys.
I was just working on structuring my next purchase. My balance is 120k on my PPOR with 90k in redraw. Property value 320k. Ill be splitting my loan into 2 and using the 90k as deposit on my first IP, purchase price approx 400k.
Im thinking of having my IP loan IO so i can focus on paying down my PPOR. Im wondering what you guys think about paying off your PPOR completely as i have the potential to do this within 1 year. Is this the smartest thing to do?
Once its paid off then what? How do i use equity in PPOR to buy more property?
My goal is to buy at least 4 IP in the next 4 years.
Thanks for your thoughts guys.