My first rental is almost paid for. Where do i go from here?

Question

My first rental is almost paid for. Where do I go from here? Do I refinance and use the equity to make down payments on other properties?

Eric Aello · Answer

Let's not talk about death. 70 is the new 50. lol

Pull the equity, buy 2 more rentals, as long as you can make it work where all is positive cash flow. If something does happen to you (God forbid), your heirs will have debt in the property, but also have property going up in value.

Jaron Walling · Answer

This question is mute. If you refinance then you're leveraging the property and now you have debt. If your goals are to build a portfolio that's best path to success. I agree with @Aaron Smith and would have done it months/years ago.

John D. dickinson · Answer

Aaron: Thanks for your post. Yes, I want to build a portfolio but I am 70 years old and would like to create a debt free pofolio for my heirs before I die. I am subsidizing the first rental with $1000 until I get it paid off. Do you still think I should refinance?

My first rental is almost paid for. Where do i go from here?

My first rental is almost paid for. Where do i go from here?

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