W wade75 7th Sep, 2007 #1 Can someone please confirm my understanding on how rental income can be used. I can have an IP loan in which i borrow surplus funds to cover all expenses. Then i can place the rental income into my home loan to help reduce it quicker. Is this ok????
Can someone please confirm my understanding on how rental income can be used. I can have an IP loan in which i borrow surplus funds to cover all expenses. Then i can place the rental income into my home loan to help reduce it quicker. Is this ok????
Rixter 8th Sep, 2007 #2 Yep no problems what so ever. You can do what ever you like with it...even spend it
twobobsworth 8th Sep, 2007 #3 Yep all my rent goes into my homeloan and if there is short cashflow I redraw.
C cgw 11th Sep, 2007 #4 Be careful if you redraw fm the Investment Loan, it is not for personal reasons, otherwise it makes it hard to work out the deductable interest.
Be careful if you redraw fm the Investment Loan, it is not for personal reasons, otherwise it makes it hard to work out the deductable interest.
W wade75 14th Sep, 2007 #5 Thanks for the the help, sounds fantastic. Lets get rid of that home loan.
