W
WebBoard
Guest
From: Mark Noonan
Hi,
I have just recently bought my own home, and have 2 IP's. One of them has quite alot of equity in it.
I have had some advice to sell one IP, use all the proceeds from its sale less CGT to payout as much of my personal home loan.
The reason behind this is to get rid of my non productive debt as quick as possible, and then get back into another couple of IP's using the equity now on my own house.
By selling the property I can probably reduce my personal home loan debt to half what it currently is & pay it out in 3 years. Which I could redraw to purchase another property straight away.
I'm interested in any opinions on this strategy.
Cheers,
Mark
Hi,
I have just recently bought my own home, and have 2 IP's. One of them has quite alot of equity in it.
I have had some advice to sell one IP, use all the proceeds from its sale less CGT to payout as much of my personal home loan.
The reason behind this is to get rid of my non productive debt as quick as possible, and then get back into another couple of IP's using the equity now on my own house.
By selling the property I can probably reduce my personal home loan debt to half what it currently is & pay it out in 3 years. Which I could redraw to purchase another property straight away.
I'm interested in any opinions on this strategy.
Cheers,
Mark
Last edited by a moderator: