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Updated over 6 years ago on . Most recent reply

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Tj M.
  • Real Estate Investor
  • Reno, NV
67
Votes |
71
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Sold primary residence. What to do with profits?

Tj M.
  • Real Estate Investor
  • Reno, NV
Posted

So I sold my primary residence and made a very nice profit. I feel like I want to pay off my two rental properties and then have them pay my mortgage on the new house. I did not make enough to pay off my new mortgage without adding funds. What would the BP community do with the money?

Most Popular Reply

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617
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Karen O.
  • NYC, NY
456
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617
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Karen O.
  • NYC, NY
Replied

Could you also use the net proceeds from sale to buy more cash flowing rental property? 

Maybe the CF from the new investment (s), together with CF from existing investments would provide enough to pay the mtge on your primary.

If you haven't already done so, I'd also consider making sure all of my emergency and capex funds are fully funded.  

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