Update and opinions required

Discussion in 'Investment Strategy' started by JPHustle, 16th Apr, 2022.

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  1. JPHustle

    JPHustle Well-Known Member

    Joined:
    4th Jun, 2021
    Posts:
    136
    Location:
    BRUNSWICK EAST
    Hey guys
    I have a block of land that was due to settle in May but this won't happen untill August / September. I have decided to build on it as equity position is favourable: Total cost to build plus land = 420k value = 515k.
    This part is easy.

    I have some nice equity available in my PPOR available, and just been approved for 500k for another property.

    I think Melbourne west wil have potential to grow, as it seems more and more families will start to immigrate.

    In short should my next home loan be PI Interest only or split? Eg half PI and half Interest only.
     
    JPHustle, 16th Apr, 2022
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,629
    Location:
    Gold Coast (Australia Wide)
    Do you have any non deductible debt left on your PPOR ?

    ta
    rolf
     
    Rolf Latham, 16th Apr, 2022
    #2
  3. JPHustle

    JPHustle Well-Known Member

    Joined:
    4th Jun, 2021
    Posts:
    136
    Location:
    BRUNSWICK EAST
    Hi I have been better recycling and we only have around 50k left on our ppor but with debt recycling this should all be completed by mid-next year
     
    JPHustle, 16th Apr, 2022
    #3