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Updated over 3 years ago on . Most recent reply

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Cory Lucas
  • Rental Property Investor
  • Brighton, IL
139
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431
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Which would you pay down?

Cory Lucas
  • Rental Property Investor
  • Brighton, IL
Posted

Currently own investment wise a duplex and a SFH, thinking about paying extra on one of the loans to pay it down faster. Curious which others would go after first? I'm thinking the SFH as that would likely appreciate faster correct? Which would in turn help out with getting things like a line of credit on it for further investing quicker

Thanks in advance for any and all help

  • Cory Lucas
  • Most Popular Reply

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    Nathan Gesner
    • Real Estate Broker
    • Cody, WY
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    Nathan Gesner
    • Real Estate Broker
    • Cody, WY
    ModeratorReplied

    If you make extra payments on an existing mortgage, you'll still only be able to borrow 75% of that equity. If the property is cash flowing, you'd be better off leaving it as it is and using your extra cash to save for the next purchase.

    • Nathan Gesner
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