All Forum Posts by: Terry Dunn

Me personally, I pay them off. I love having no debt period.

Colleen,

I also feel they way you do, it raises questions when they begin to question your requirements. But then again maybe they have been burned before as well. I think if it was me I would just be upfront with them and tell them my concerns and see what they say. If you get the same feeling then you can inform them your with drawing the offer.

Thanks Nick Watkins, As I said Im just looking for input, I realize its my decision to make.

Jeff Sprunger: All valid points, I'm 61 this month so your points are well taken, thanks

So my story is that I spent my life in construction work. Built a few houses. It wasn't till the last housing melt down that I decided to look into buying and flipping as well as rentals. I ended up with two rental homes that I have now had for 7 years or so. I have the same tenants that I started with. I guess I'm one of these Dave Ramsey guys, that is having no debt, so I paid off the houses early and now own free and clear. Now after finding this site, I would like to get a couple more rentals. SO the age old question, where is a better place to be, owning free and clear or mortgaged to the hilt. Perhaps get a loan on my existing houses? 

I bought the one house for $33,000.00 and put $12k into it (new kitchen, baths) and it has a current market value of $155,000.00 so I have lots of equity. Just would like the thoughts of experienced investors. I LOVE THIS SITE

I would include to all the comments above, when you pay them get a "Full unconditional" waiver signed.