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Updated over 5 years ago on . Most recent reply

Jens Tutzauer's profile image
Jens Tutzauer's profile image
Jens Tutzauer
  • Rental Property Investor
  • from San Jose, CA
  • Member since Nov 14, 2019
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Jens Tutzauer's profile image
Jens Tutzauer's profile image
Jens Tutzauer
  • Rental Property Investor
  • from San Jose, CA
  • Member since Nov 14, 2019
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Jens Tutzauer
  • Rental Property Investor
  • San Jose, CA
2
Votes |
5
Posts
Private Lending & Conventional Mortgage Advice

Paying off mortgage yes or no

Jens Tutzauer
  • Rental Property Investor
  • San Jose, CA
Posted

I own a single family residential property (4/3) in Las Vegas. I've owned the property since 2010 and owe a little less than $100k. I have a 30yr fixed rate mortgage with a 4.75% rate. The rent income covers all my cost and I make a few hundred $ extra as profit. I'm debating whether or not to pay off my mortgage or use the money as downpayment for another investment property. Appreciate opinions and thoughts. Thank you!

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Shawn Jackson's profile image
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Shawn Jackson
  • Contractor
  • from Newburgh, NY
  • Member since Dec 13, 2017
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Shawn Jackson's profile image
Shawn Jackson
  • Contractor
  • from Newburgh, NY
  • Member since Dec 13, 2017
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Shawn Jackson
  • Contractor
  • Newburgh, NY
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Shawn Jackson
  • Contractor
  • Newburgh, NY
Replied

Solid advice!! @stephan kraus

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