keeping a positive mindset

[Twannisha Jackson]

hi, how are you? i’m Twannisha Jackson. i’m house hacking in cleves, ohio. i have a question about paying the mortgage down & what’s the best option? should i start adding extra to the principal immediately or keep paying the usual? bought a house for $140k, i have inherited a client, rents was $475, now it’s $875 but i would like to go up $25 next year. is that a good move? should i wait? i’m buying & holding, long term. cash flow is my priority. let’s connect! good day!

[Stephen DeThample]

Hi, 

Couple of questions:

1) Do you plan to refinance in the future?

2) Could your money make more than the interest rate for the home somewhere else?

Paying extra on the mortgage will not lower your payment.  It would if you refinanced a smaller loan later though.  Everyone has different comfort levels with their money, you should do what makes you comfortable.