All Forum Posts by: Rachelle P.

You folks are all brilliant. This is my first rental, so you are giving me so many points of view and a lot of things to look at and think about. This is great!

Sarah

Thanks and great point. I have the down, DTI is good, and I am already approved for a loan. This property would generate $400 a month income, currently.

Thanks, Connor and Ryan. This gives me some interesting perspective. Connor, this concept of keeping the least amount of equity is a good thought and very timely as I am also deciding whether or not to put 20% down or 25% down.  This, in my mind, settles the question. For me, 20% sounds a lot better. And Ryan, great point about protected assets.

J, yes, This is the reason why I am asking. If I can pay down my mortgage and get RID of PMI, am I better off than buying an investment property? So, I definitely know that money is for them and not me. I could put that amount toward the principal instead, right? Keep my payment the same.

I am currently paying PMI on my primary residence.

I am a novice here, but am I better off paying down my house and losing the $300 a month PMI, or taking the money I have in the bank and buying a rental? I'd make $300 a month from the rental, and it is brand new with a 1 year warranty, so maintenance costs would be delayed for a bit.

Thanks for advice!