Just after some feedback on ideas im confused
Own my own home worth around $350k and still have around $1k left of a 100K loan for when i purchased the property.
1. Looking to purchase another property although unsure of my avenues in regards to Neg gearing a property or positive cashflow and i dont fully understand how all that works.
2. Should i redraw the $100k off my current loan ?
Any idea would be appreciated whilst i do some forum searching for similar scenarios.
Thanks
Own my own home worth around $350k and still have around $1k left of a 100K loan for when i purchased the property.
1. Looking to purchase another property although unsure of my avenues in regards to Neg gearing a property or positive cashflow and i dont fully understand how all that works.
2. Should i redraw the $100k off my current loan ?
Any idea would be appreciated whilst i do some forum searching for similar scenarios.
Thanks