Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

User Stats

6
Posts
0
Votes
Matthew Vogel
  • Contractor
  • WI (wisconsin)
0
Votes |
6
Posts

Hold mortgage for tax deductions? Or pay off completely?

Matthew Vogel
  • Contractor
  • WI (wisconsin)
Posted

I'm 23 years old and just bought my 2nd property. My first property i hold a $62,000 conventional 30 year fixed-rate at 4% and my second i hold is $64,000 conventional 30 year fixed rate at 3.125% both property's I am making an annual 22% cash on cash return. My question is, should I hold the mortgages and make minimum payments and use the interest paid as tax deductions? Or take my next to years income from my W2 job to pay off both units free and clear and avoid many years of interest? As of now I'm not interested in pulling Equity to reinvest witch I know many of you will recommend. What is everyones recommendations and strategies with my current circumstance???

Thank you in advance.

Loading replies...