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Updated almost 4 years ago on . Most recent reply

Brian Gerace's profile image
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Brian Gerace
  • from Dublin, Ca
  • Member since Nov 7, 2010
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Brian Gerace's profile image
Brian Gerace's profile image
Brian Gerace
  • from Dublin, Ca
  • Member since Nov 7, 2010
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Brian Gerace
  • Dublin, Ca
5
Votes |
22
Posts
General Real Estate Investing

Pay down Mortgage on Rental

Brian Gerace
  • Dublin, Ca
Posted

I have a rental with significant equity. Have idle funds that I am debating using to pay off the mortgage on the rental property. Any thoughts on the pros and cons. Property cash flows as is.

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Joe Villeneuve
  • #5 All Forums Contributor
  • from Plymouth, MI
  • Member since Jul 7, 2013
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Joe Villeneuve's profile image
Joe Villeneuve's profile image
Joe Villeneuve
  • #5 All Forums Contributor
  • from Plymouth, MI
  • Member since Jul 7, 2013
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
19,420
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied

NOOOOOO.  Why in the world would you add to the cost of the property by taking money ut of your pocket, to pay for something the tenant is already paying for?  Also, if I had a lot of equity in a property, I would be selling it bedause your equity is actually dead cash, and the value of that cash goes down with every increase in that equity.

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