General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
Keep the cash or put towards equity
Hi BP it's been awhile,
After a long 6 months I've finally closed on my first investment property a 4unit in Kenosha Wisconsin. As far as numbers I don't get a great deal and may have over payed a bit but it does meet the 2% rule and should cash flow fine. House was assessed about 105k purchase price 100k with 10% down loan at 90k. Now my plan is to cash out refinance as soon as I can and my question is should I apply some of my cash flow towards the monthly mortgage to build equity faster or should I bank the cash flow and keep making the minimum payments. Are there other strategies or advice for me to be able to refinance sooner rather than later?