Hello overyone,
I am in the process of rearranging my finances and would like your opinion on the following proposal.
My husband and I intend on financing our 4 IPs with IO loans and our PPOR with a LOC. Rental return from the other 4 properties will be paid directly into the LOC loan and the idea is that these payments assist to reduce our LOC account and hence the amount we will end paying for our own home. Our cheque accounts will be linked to the LOC account and mortgage payments will be made from here.
Your thoughts would be appreciated.
I'm new at this game.
Hils.
I am in the process of rearranging my finances and would like your opinion on the following proposal.
My husband and I intend on financing our 4 IPs with IO loans and our PPOR with a LOC. Rental return from the other 4 properties will be paid directly into the LOC loan and the idea is that these payments assist to reduce our LOC account and hence the amount we will end paying for our own home. Our cheque accounts will be linked to the LOC account and mortgage payments will be made from here.
Your thoughts would be appreciated.
I'm new at this game.
Hils.