Updated 5 months ago on . Most recent reply
Paying off rental
Hi, I just closed on a property in Tennessee last month and I have a tenant as of New Year’s Eve. Does it make sense tax wise and everything to pay off my rental as soon as I can or should I just wait and have my tenants pay it off? Thank you!
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Theresa Harris
#3 Managing Your Property Contributor
Pro Member
#3 Managing Your Property Contributor
It depends on your situation. If you want to buy more properties, you need money for a down payment. The amount you owe will also affect your ability to borrow.