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Updated almost 3 years ago,
100% debt free or Hold Assets?
My wife and I are in a interesting position and are exploring 2 different options I would appreciate any help. We Currently have 2 income properties, one long term and the other is a Airbnb rental that has been a homerun for us, we also have a mortgage for our current residence.
Option 1
Sell our long term rental, and use the profit to pay off the Airbnb property. Which means the Airbnb will profit us about 20k - 30k. We would only have our mortgage payment remaining.
Option 2
Sell both the long term rental and the Airbnb and use the profits to pay of our current residence. Which would make us 100% debt free and very liquid. Within the next year or two we would be in position to purchase another Airbnb cash.
Any seasoned investors willing to weigh in on this, we would be very grateful. Thanks in advance.