15 year or 30 year?

[Luke Woods]

what is your preferance when purchasing a rental property? I know 30 year increases your profits because your paying less per month but you will also pay more in interest on the other hand if you go 15 your profit is less but you get your unit(s) paid off 2x as fast?

Also what would you susggest for a first time rental owner? 15 or 30

[David Krulac]

@Luke Woods

As a beginning investor, I always felt that I should borrow as much as I could for as long as I could. The first 5 deals that i did were all essentially 100% financed, and I tried for 30 years fixed. Two of the deals one from a bank and one from a seller ended up being 15 year fixed, which i was satisfied with.

On the other hand of the last 67 properties bought only financed 1.