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Updated over 6 years ago,
AirBnB Newbie Looking for Advice on 2nd property
So I recently purchased a dual home - I live up top and rent out the bottom. So far it's been working great...covers my monthly nut so basically living for free.
Right now I have about $360k left at 4.3%
I have about $170k in cash
Was thinking to use some of the cash to either invest or perhaps pay down some of the mortgage
But...this sweet house for $650k came on the market - it also has a main living area and a carport that can be rented out for $1500/mo or so.
So I'm thinking if I deploy 20% into that I can live in the 2nd house and the cashflow from the other house + side rental should cover it all.
Do you think this is a good idea or given how hot the market it is would it be safer to just pay down the first mortgage first?