I'm a little confused by the concept of taking out equity.
I understand that if you've been paying off the principal as well as interest in your own home, you will have equity that you can take out to invest in property.
What about if you've brought an IP on interest only? And you've held that IP for several years and there's been good capital growth. Can you use the capital growth portion towards a deposit on another IP?
I understand that if you've been paying off the principal as well as interest in your own home, you will have equity that you can take out to invest in property.
What about if you've brought an IP on interest only? And you've held that IP for several years and there's been good capital growth. Can you use the capital growth portion towards a deposit on another IP?