Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Personal Finance
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago, 07/15/2015

User Stats

29
Posts
3
Votes
Fernando H.
  • Investor
  • Reading, PA
3
Votes |
29
Posts

60K to Invest or pay off debts?

Fernando H.
  • Investor
  • Reading, PA
Posted

Hey guys, I am new to BP, but am very impressed with the amount of experience and knowledge on this forum and its members. I need some financial advice.

I have 2 Rental properties where I am owner occupant of one of the multi units.

I have 60k in equity in one of the properties that I will like to use to consolidate debt or continue buying more rental properties for an additional cash flow with a HEL at 4.50% interest. 

I have debt amounting to $1,500 / month that I can consolidate with a Home equity loan and be free and clear or use the 60k or a portion of that amount to continue buying more rental properties at 20% down where decent SF or Multi Units go for 60k.

car loan at 440/month - 17k left

installment loan 375/month - 30k left 8.5 interest

credit card 500/month - 7k left at 0% interest for 14 month

HELOC - 200 / month - 9k left at 3.50% interest

Loading replies...