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Updated about 2 years ago on . Most recent reply

Account Closed's profile image
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Account Closed
  • from Suwanee, Georgia
  • Member since Jul 5, 2016
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Account Closed
  • from Suwanee, Georgia
  • Member since Jul 5, 2016
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Account Closed
  • Suwanee, GA
1
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Innovative Strategies

Paying off Rental Properties

Account Closed
  • Suwanee, GA
Posted

What are some of the pros and cons of paying off the mortgages of a few of your rental properties? 

Thanks!

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Trevor Ewen's profile image
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Trevor Ewen
  • Rental Property Investor
  • from Weehawken, NJ
  • Member since Apr 4, 2014
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Trevor Ewen
  • Rental Property Investor
  • from Weehawken, NJ
  • Member since Apr 4, 2014
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Trevor Ewen
  • Rental Property Investor
  • Weehawken, NJ
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Trevor Ewen
  • Rental Property Investor
  • Weehawken, NJ
Replied

@Account Closed

Debt is a very personal topic, definitely something to be evaluated on a case by case basis.

I would do some scenario planning with the mortgages you already have. At what number would you become nervous about having so much outstanding debt?

Whatever number that is, is a good place to start paying them off. Some people never reach this number, for others, it's #1. Some people buy homes with cash only, check out this great show with Sharad Mehta:

https://www.biggerpockets.com/renewsblog/2015/12/31/bp-podcast-155200deals-years-sharad-mehta/

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