How do you do it? Move on to your 2nd property?

[Thomas Beyer]

Any interest on debt for any investment can ( and should be ) be deducted as an expense.


As such, it may make sense to have a product like STEP from ScotiaBank which allows a mortgage plus multiple LOCs on the same property, as some of the cash might be used for a new boat or vacation ( not deductible ) whereas other debt is used for the new investment property ( deductible ).