Investment property with no mortgage

I moved out of what was my PPOR and now have a tenant. But there is no money owing on it. Am I better off taking money out than leaving it paid off? I'd prefer not to get another property and I guess have a preference for simplicity.

Thanks!

 

You can't get money out, but only borrow against the property. What would you borrow money for is the question to ask yourself

 

I guess that's what I'm asking. I have a loan facility in place. Is there a common strategy I'm missing by not using it?

 

You can borrow to invest in that case - i mean consider it. If you borrow to buy an income producing asset the interest could be deductible.

BTW, If there is a loan then there must be a mortgage.

 

Oh there is a mortgage. It's covered in an offset account. For simplicity I ignored that. So buying another property is the only way to improve the situation financially? I'm not comfortable with the philosophy of investment properties - this one was intended to be my PPOR. So I'd prefer to avoid it.
It feels like it's a cycle where once you have one the only way to avoid tax is to get more.
Thanks for your help too BTW.

 

You could pay the loan off and redraw to buy income producing shares and claim the interest
or you could just use the offset cash and buy shares and then potentially claim the interest against the rent

 

Now living at my partner's property. Just have the feeling that I'm not making the most of my money.