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Updated over 7 years ago,

User Stats

91
Posts
21
Votes
Edgar Perez
  • Kenosha, WI
21
Votes |
91
Posts

Keep the cash or put towards equity

Edgar Perez
  • Kenosha, WI
Posted
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?

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