Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax Liens & Mortgage Notes
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 13 years ago,

User Stats

4
Posts
0
Votes
Benjamin Johnston
  • Virginia
0
Votes |
4
Posts

What would you do?

Benjamin Johnston
  • Virginia
Posted

My primary residence is free and clear and with an appraised value of 290k.

Rental property A has an appraised value of 150k and has two liens.
1. 33k balance on first mortgage at 5% fixed with 6 years remaining ($475 a month)
2. 83k balance on variable HELOC currently at 3.24% with 6 years remaining ($1300 a month)

Gross rent: $2070 a month.

Rental property B has an appraised value of 225k and has one lien.
1. 180k balance on the only mortgage at 4.8% with 27 years remaining ($950 a month)

Gross rent: $1200 a month. (potential rent of $1900 per month)

Would you pay off the first investment property in 5-6 years and then focus on the second? ...or...

Refi primary residence and pull 217k out at 3.25 for 15 years (or 30?), pay off property A and 80k on property B and then apply extra rental income to property B until it is paid off?

Thanks.

Loading replies...