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Updated 3 months ago on . Most recent reply

User Stats

29
Posts
13
Votes
John Friendas
13
Votes |
29
Posts

15 vs 30 Year Mortgage for Investor

John Friendas
Posted

I have two options 6.625% 30 year or 6.15% 15 year

I want to invest aggressively in the near future on more properties

The loan is only $110k and the monthly payment for 15 year is $563 and $750

I will earn 2-3k a month in gross rental revenue

The property is in a declining population area

Recently rennovated, and all major things were relatively recently improved such as plumbing, the roof, a/c, electric, etc.

Will require a lot of management as it is rent by the room so I may switch to a normal rental after 10 years

I'm trying to find what will mathematically net me the most money in the long run. Considering opportunity cost of not affording more rentals vs paying much more in interest. I saw a lot of advice to do what feels comfortable but I feel like I want to find out which one will end with more net worth.

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