Updated over 6 years ago on . Most recent reply
First rental property with mortgage or no?
Should I save up enough money to buy my first rental property or would getting a mortgage be a waist of time?
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@Willie Lohse it is the tenants job to pay off the mortgage. Start to use your calculator and see the power of leverage. Abbreviated example. 1 paid off house $100000 or 5 houses with 20% down. 3% growth 1 house grows to $134000 or 5 houses grow to $670000 in 10 years. What about the mortgage. Mortgage paid down to $65073x5=$325365. Equity=$344365. Like the Capitol One commercial"What's in your wallet".