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Updated over 5 years ago on . Most recent reply

Azzeaz Saleh's profile image
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Azzeaz Saleh
  • from Dearborn, Michigan
  • Member since Feb 18, 2016
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Azzeaz Saleh's profile image
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Azzeaz Saleh
  • from Dearborn, Michigan
  • Member since Feb 18, 2016
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Azzeaz Saleh
  • Dearborn, MI
2
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Creative Real Estate Financing

Trying to understand why many teachers choose 30yr vs 15yr loan

Azzeaz Saleh
  • Dearborn, MI
Posted

why do people who try to explain use 30yr mortgage vs 15yr mortgage on 100k properties.  The difference in interest is huge and wouldnt a 15 year vision be more closer to a home run?

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Joe Villeneuve
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  • from Plymouth, MI
  • Member since Jul 7, 2013
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Joe Villeneuve
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  • from Plymouth, MI
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  • Plymouth, MI
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied

The tenant pays the mortgage.  The longer the term, the lower the mortgage payment, and the higher the cash flow.  The tenant is the one buying the property for you.  Don't help them.

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