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equity line of credit - confusionshay1975 [6 Posts] I have a question about ELOC. Say I have 100k in equity and I access this through an ELOC secured against my property. I can use this 100k as a deposit to purchase an investment property for say 500k. I also have an all in one account. And I believe I then pay interest on the all in one and ELOC. My confusion is around the additional 400k which is the cost to purchase the investment property (500k - 100k deposit)...should I not be paying interest on this aswell??? Or is this secured against the investment property or something?? Totally confused by this. Any clarification would be great Thanks in advance redwing [2746 Posts]  Yep, You'll be paying Interest on the $400k as well Tenant and tax man help Dont forget Stamp Duty, Loan Costs etc............ "Money is a currency, like electricity and it requires momentum to make it Effective"   |
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can be quite tricky <more> Active forum topicsGood Depreciation Schedule Author: magic32 Accountant in Melbourne Author: learning 1 Who's OnlineTake The Test
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