Updated almost 6 years ago on . Most recent reply
Make large payment on perty to cashout or invest in new property.
Hello people.
I gave 20,000 for a downpayment on a 92,000 single family home its now worth about 105,000 I now owe 69,000 property cash flows 150 a month, how ever tenant paid one year of rent up front which is 15, 000 adding it with my savings equals (30,000) I have an other property that can cover this house payments. Now should I dump it to the principal payment of the house to reduce amount owed and do a cash out refi ? or should I leave that alone and invest that money in new property? I would like to read your opinions.