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Updated over 7 years ago,
Question for everyone- Spokane
I recently moved to Spokane Wa after leaving my house hacking duplex in Tri-cities. I am considering selling the duplex next month, after taxes and commissions- I will be at $40k profit. I am weighing the pros and cons between reinvesting in the Spokane market (i.e. 20% down on a 100k house and renting). Or... making $40k one-time principle payment on our primary home morgagte(252,000 owed). Amortization schedules are saying that I would shave roughly 9 years off my loan, with an interest savings of $77k.
What are your guys thoughts? I appreciate you taking the time to give me feedback!! :)