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All Forum Posts by: Hong Kim

Hong Kim has started 1 posts and replied 1 times.

General Real Estate Investing

Post: Rent Existing Home - Pay Down New Home

Hong KimPosted
  • Posts 1
  • Votes 0

Paid off our existing home in 2023.  Just purchased a new home and will close on that home on 8/30/2024.  Was hoping to rent out our existing home and use the rent to pay down our new home mortgage faster.  Assuming we can get it rented, we would be able to pay off the new home within 10 years.  Our existing home will need to have some minor repairs completed prior to attempting to rent out - paint, drywall repairs, etc.  As we have never been through this process, any recommendations or best practices would be greatly appreciated. 

0 Votes