Hi,
Am about to purchase a home to live in. Already have 2 investment properties in Auckland, both cash positive by around 2-3k per year. (Purchased 2-3 years ago). I have a cash deposit for the the purchase of my home (next purchase). I heard it is best to top up my investment loans and transfer equity to my home (as the interest is tax deductible on the investment properties and not home). However, if I do this, the investments no longer will be cash positive. I can afford to pay full mortgage on home purchase without transferring equity. But is it better financial sense to move the equity across?
Any advice would be appreciated.
Am about to purchase a home to live in. Already have 2 investment properties in Auckland, both cash positive by around 2-3k per year. (Purchased 2-3 years ago). I have a cash deposit for the the purchase of my home (next purchase). I heard it is best to top up my investment loans and transfer equity to my home (as the interest is tax deductible on the investment properties and not home). However, if I do this, the investments no longer will be cash positive. I can afford to pay full mortgage on home purchase without transferring equity. But is it better financial sense to move the equity across?
Any advice would be appreciated.
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