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All Forum Posts by: Steve Gee

Steve Gee has started 1 posts and replied 3 times.

New Member Introductions

Post: To pay off or to reinvest ?

Steve GeePosted
  • Rental Property Investor
  • Miami Fl
  • Posts 3
  • Votes 2

Addam thanks! Yes in my case my mortgage is $408/ month, 30 year conventional loan with 5.3% interest rate.  So i can see your point about making those 70k produce more on a similar deal and make more. Thanks again! 

0 Votes
New Member Introductions

Post: To pay off or to reinvest ?

Steve GeePosted
  • Rental Property Investor
  • Miami Fl
  • Posts 3
  • Votes 2

Thanks for the reply Brian. What details would you like to know ? My interest is in rental income and not flipping purchases. I find myself undecided to payoff the 70K loan and capitalize on the rental income or use that cash to put down for another property.  Your advise is much appreciated!

0 Votes
New Member Introductions

Post: To pay off or to reinvest ?

Steve GeePosted
  • Rental Property Investor
  • Miami Fl
  • Posts 3
  • Votes 2

I recently bought a townhouse in a renter popular area. The property is occupied and i am currently making rental income. I only financed 70K. I am fortunate to say I am saving significantly between rental income on this property, my profession, and other investments. My questions is .....

Should I pay off the property ASAP or use the 70K to put down for another property similar property with similar deal in today's market? FYI I am based and investing in South Florida. 

2 Votes