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.
Buying & Selling Real Estate
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 over 10 years ago,

User Stats

23
Posts
0
Votes
Chootar Laal
  • Boston, MA
0
Votes |
23
Posts

Need advice on paying off mortgage and being debt-free

Chootar Laal
  • Boston, MA
Posted

Sorry if this is in the wrong area of the forum, mods.

So I have a 2-family investment property (financed via bank) and a single-family home (primary residence) in the same city. Here are the expenses and rent rolls that I owe monthly. I am seriously thinking about selling the 2-family property because I realize the appreciation will help me pay off the single-family home in full or ~95% of it. In the end the balance will be about the same as I currently end up with. I realize if I sell I dont take advantage of the appreciation in the future the property may get me but being debt-free is very appealing to me currently, its just a mind-set I'm craving.

Just need some help with the model below. Is there something else I am overlooking? Any other expenses etc?

-INVESTMENT property

monthly rent: $5200

monthly water/sewer, property taxes, insurance: ~$540

monthly mortgage and HELOC: $2925

.

.

-PRIMARY residence

monthly mortgage : $1800

Any suggestions?

Loading replies...