Mortgage, HELOC costs and terms, etc.

. 🤷🏼‍♂️ Credit scores can be misleading when screening tenants, as many lack the term loans (like mortgages) that drive high scores.

Ouch@Brett Synicky the scenario was if I could find a house and pay for it using the IRA then that would become the mortgage.

Deduct mortgage interest, property taxes, travel, and operational expenses.

Everyone will tell you it’s great to get started early, or you can just move after a year, but in the current environment in our region the rent your property will generate after you move out will likely be less than your mortgage, if you are tied to the area and feel confident you want to stay in whatever property you buy for 3-5 years go for it, if you want flexibility rent and throw that money into and index fund. 

.: Hello,Did anyone received post closing audit from mortgage company.

@Diandre PiercePaying down mortgages is the opposite of scaling.

I have a few properties and am also a mortgage broker, happy to answer any questions about general investing or financing options.

It depends on what the terms of your mortgage are.Pros-with no mortgage, you have higher cash flow.Cons-if you plan on buying more properties, you are better off saving the money for a down payment for your next place.The big questions are: can you get higher than 7% return if you invest that money elsewhere? 

If they want their money back fast like a flip then let them flip it and you buy it as a primary residence with a conventional or fha mortgage.