Pay off line of credit or reinvest

[April Robbins]

I have 4 rentals bringing in $2000 month cash flow. Only debt is line credit at bank for $9500 at 12% interest. My husband had a new business do bad and we have 55k in credit card bills at 21% eating us alive. Should I use cash flow to pay off bank first and keep growing properties or should I hold off and pay down credit cards with that money and wait on growing 😞😢.

[Frank Greco]

@April Robbins I would not advise a refinance cash out. Yes the rate is lower but timeframe is a LOT longer to pay off. Buckle down, clean up the cards using a Dave Ramsey approach (smallest to largest). Give a year or whatever and keep the goal in mind all the time. You’ll come back better prepared and stronger for your success. I wish you the very best!