Hi Terry, thats assuming you were on good money but with the 3 IP's without capitalising interest you would receive around $8500 per annum tax back, you would have only paid around $10,000 in taxes all year so you would not really see the full deductibility.
All I'm saying is, I don't really see much point in doing things this way once the numbers have been crunched, apart from going quite deep into debt and losing more money in the form of capitalised interest. But the other side is (obdviously) the home loan would dissipate within a few short years.
My question is this: Is it really worth it?
I imagine in some cases, yes, it would be. Such as a highly paid individual. For a run of the mill employee earning $50k a year, I don't think it would be.