Updated almost 6 years ago on . Most recent reply
Pay off debt or buy another property?
I have been saving all year and with that said I have a good lump sum of money.
With that being said I am wondering should I pay off my current car note? I have found some properties that I am interested in and using those funds would hurt. I am planning on using a conventional mortgage as I am coming to the year maturity of my FHA loan. What would you recommend?
If you need more information let me know. Just asking for your basic opinion.
Most Popular Reply
Consider using the money to create additional cash flow if the car loan is low interest. An additional $200 a month in cash flow can easily take care of a low monthly payment on a car loan and you also have the other benefits of RE investing.