130K to spend. How to spend it?

Question

I know this probably isn't the best way to spend my severance pay from the military, but I was considering using it on paying off my investment property I have in TX. I currently make anywhere from 300-400 per month on my duplex, varies based off repairs and so on. I currently owe approximately 130K on it. If paid off, it would bring in about 1100 per month after property taxes/INS and PM fees. I've also considered buying two properties that would cash flow and bring bigger returns. Just seeking advice, any would help. Thanks

Dan Krupa · Answer

@Frank Inman , I was just at Meade. You need to do the math. With that 100k+ does it make more sense to dump it into one property or buy a few more properties and get the cash flow from them. Run your numbers. Look at all your options. There is a lot you can do with that money.  Good luck to you.

Frank Inman · Answer

Thanks, James A. I'm actually stationed at Fort Meade, MD. How is the buy and hold market in this area?

James A. · Answer

@Frank Inman Thank you for your service!!  Everyone is going to have a different option about this but my view is that money is still cheap so take advantage and leverage it.  Seems like you are into the buy and hold thing so if that is the way you still want to continue I would try to make your money stretch as far as you can and get into as many units.  Good luck and let me know if i can help in anyway.  I am out of Baltimore.