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Updated about 4 years ago, 10/18/2020

User Stats

264
Posts
279
Votes
Fred Cannon
  • Rental Property Investor
  • St Augustine, FL
279
Votes |
264
Posts

What would you do with six rental properties without mortgages

Fred Cannon
  • Rental Property Investor
  • St Augustine, FL
Posted

Just curious about BP opinions. I have 6 mortgage free properties that I bought around 2010 when the market had crashed. I am thinking about taking out my original purchase money thru a mortgage. Actually in would be much more that my purchase price. I paid anywhere from 30K to 45K for these properties (condos) and I cash flow around 700 per unit. if I took out a 75K mortgage (75% LTV ) I would still cash flow around 300 per month I am retired and like having the monthly income but it would be nice to get the money out as well. What would you do.

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