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Updated over 2 years ago on . Most recent reply

User Stats

26
Posts
5
Votes
Angel R.
  • New to Real Estate
  • TX
5
Votes |
26
Posts

Pay off car loan or save?

Angel R.
  • New to Real Estate
  • TX
Posted

Hey everyone, looking for some input. I have a car loan for 29k at 1.9% I currently own two duplexs, one I'm housing hacking so 3 units rented total. In theory, one of the units pays my car note. $483. I want to acquire my next rental as soon as possible, I have 5k saved for the next house hack, with a recession in the horizon, I'm anxious don't know where to be aggressive and try to wipe off the car debt or keep stacking away towards my next house hack. I will need about 15k more.. 

Most Popular Reply

User Stats

897
Posts
547
Votes
Jared Hottle
Agent
Pro Member
  • Real Estate Agent
  • Cedar falls IA Waterloo, IA
547
Votes |
897
Posts
Jared Hottle
Agent
Pro Member
  • Real Estate Agent
  • Cedar falls IA Waterloo, IA
Replied

I think I would channel some @Scott Trench set for life and look for an older reliable vehicle and sell what you have especially if you could break even or make money on it in the current market conditions. This will give you freedom and peace of mind as you look to expand your portfolio and more runway potentially as you look to expand your rental business. 

  • Jared Hottle

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