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Updated over 6 years ago on . Most recent reply

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8
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Scott Pennington
  • Bixby, OK
0
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8
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Sell my rental property to pay off CC debt

Scott Pennington
  • Bixby, OK
Posted

Should I sell my rental property to pay off CC debt or get an equity loan and have the tenants pay the loan?

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595
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Carson Wilcox
  • Davis, CA
344
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595
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Carson Wilcox
  • Davis, CA
Replied

you have an asset performing at X, and a debt costing you Y.  what will the numbers look like if you heloc it and put all that debt on it.

I just did a flip with the express purpose of paying off CC debt.  If you can heloc and wear it, knowing you will pay a lower interest rate over years, and keep the asset.. do that...

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