Hello David,
I was hoping you could point me in the right direction...
I purchased a home 2 1/2 years ago that I currently rent out, it's also listed as my principle residence, and yes I am using the interest on the mortgage as a tax deduction thanks to your Thursday night seminars. I would also like to purchase a studio condo unit and rent it out, I have the cash and could buy it outright but thought it wiser to take out a line of credit or HELOC against my current home so that I may right off the interest on the loan. The condo is under $25,000 and I was just wondering if this is the best way to go...?
Kind regards
