Updated almost 5 years ago on . Most recent reply
New to real estate....
Hello all...
So right now I have a vehicle that I owe 25k on and could pay off early. We do all projects with cash and carry basically no debt other than house mortgage and our car notes. We are currently planning to buy vacation property up north( we live in south Florida) the decision I have is between paying off my vehicle with a 3.5% interest rate or buying a rental property. The property up north is already covered. Our debt to income is great and our credit is good. I’m 32 she is 27.my gut tells me paying off low interest debt instead of buying a rental that not only raises net worth but also brings in a profit is a no brainer. Am I missing something?