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
Real Estate Classifieds
Reviews & Feedback
Updated almost 6 years ago, 02/01/2019
Pay off loan or reinvest?
Hey BP! Need some advice here,
Basically as the title says, should I use my cash flow to pay off my loan or save it for a down payment for a new unit? (Reinvest)
I have 2 rental property generating a total off $2,500 a month gross income. After HOA fees, escrow...ect...I'm left with just little over $1,000 cash flow. (Assuming I pay the minimum payment)
Question is, should I throw that money towards to principal or pay off the loan? I owe a total off about $110,000 on both of them together and pay about 5.5% interest.
If there are any other values needed to know in order to give me a proper response please let me know!!
Thank you