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Updated about 5 years ago,

User Stats

11
Posts
2
Votes
Eric Guerra
  • Rental Property Investor
  • Beaumont Tx
2
Votes |
11
Posts

Make large payment on perty to cashout or invest in new property.

Eric Guerra
  • Rental Property Investor
  • Beaumont Tx
Posted

Hello people. 

I gave 20,000 for a downpayment on a 92,000 single family home its now worth about 105,000 I now owe 69,000 property cash flows 150 a month, how ever tenant paid one year of rent up front which is 15, 000 adding it with my savings equals (30,000) I have an other property that can cover this house payments. Now should I dump it to the principal payment of the house to reduce amount owed  and do a cash out refi ? or should I leave that alone and invest that money in new property? I would like to read your opinions.

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