tag:blogger.com,1999:blog-3359808312138659853.post8556245489671091051..comments2024-02-26T21:10:26.057+11:00Comments on Journey to 90 million: Should I move into my investment property?90million bloggerhttp://www.blogger.com/profile/02641334742379054513noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3359808312138659853.post-83621876905366272972013-11-29T12:05:57.503+11:002013-11-29T12:05:57.503+11:00Hi - my loan is IO and I that's exactly what I...Hi - my loan is IO and I that's exactly what I've been doing for the last 3 years (since I bought my property). It's a great strategy which allows you to keep the tax deductibility of your loan even if you use the cash in your offset account for non investment related purchases.<br /><br />The dilemma more revolves around where I should move next. I currently rent though have been thinking about buying another place. I have enough to buy an 'ok but not exactly what I want' place to move into but I what I was really thinking about was delaying buying another place, moving into my place, saving up even more cash and then buying a place I really want. <br /><br />I could also continue to keep renting which is something else I'm considering.90 million bloggerhttps://www.blogger.com/profile/15670473943021452138noreply@blogger.comtag:blogger.com,1999:blog-3359808312138659853.post-66097782631756559222013-11-29T12:00:01.084+11:002013-11-29T12:00:01.084+11:00Is your loan P&I or IO?
If it is interest on...Is your loan P&I or IO? <br /><br />If it is interest only, wouldn't it be better to just park the repayments you make(on top of the interest) into an offset account for now until you buy another house. Use these savings from the offset account as a deposit for your new house so you have the maximum amount of savings/equity in the non tax deductible debt of your PPOR and maximum amount of tax deductible debt in your investment property. This is what i have learnt but i'm only 18 lol Photography101https://www.blogger.com/profile/10492776106595725397noreply@blogger.com