[HoppyMParticipant@hoppymJoin Date: 2015Post Count: 2]

January 11, 2021 - 3:34 pm

Thanks for getting back to me Benny.

I know all the current repayments against those 4 are paying down only the Principal, but didn’t know if putting more savings to pay down the principal even quicker was worthwhile or what the downside was of this strategy? Are there tax implications if we do or decide to get a LOC down the line?

I probably wasn’t good at explaining it but with the offsets we have them filled to the entire value of the Principal amount for each property. We do like the flexibility this offers too.

Perhaps it’s a good time to just save a cash contingency in the meantime?. Are we being too conservative in our approach at this time? What are others takes on the economic fallout potential for COVID and how is it impacting your strategy at the current time?

 

• This reply was modified 3 years, 3 months ago by  HoppyM.

[HoppyMParticipant@hoppymJoin Date: 2015Post Count: 2]

August 4, 2019 - 6:49 pm

We looked into a SMSF about a year ago and banks would only offer 70% LVR and rates were approx 6.25% from memory.

Likely to have dropped with recent rate cuts. We decided to hold off for a few years.