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From: Anonymous
I currently have a block worth around 115k with a loan of 71k. this has had a growth of 12%+ in 3 years.
I have made a decision of buying a rental property and I am currently debating which format of loan to go with.
interest only and have minimal expense and maximum benefit from a tax point of view or go with an line of credit and build more equity in the property.
I guess my question is should I build equity quickly or don't worry about that and take the tax saving benefits from the IO loan.
also I was going to put money into managed investments, would this be advisable or use all the $$ for the property. should I diversify?
Keg
I currently have a block worth around 115k with a loan of 71k. this has had a growth of 12%+ in 3 years.
I have made a decision of buying a rental property and I am currently debating which format of loan to go with.
interest only and have minimal expense and maximum benefit from a tax point of view or go with an line of credit and build more equity in the property.
I guess my question is should I build equity quickly or don't worry about that and take the tax saving benefits from the IO loan.
also I was going to put money into managed investments, would this be advisable or use all the $$ for the property. should I diversify?
Keg
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