Investor · Hollywood Florida · Member since 2018 · 5 posts · 0 votes
Hi, my partner and I paid off our primary home. we then reified, and purchase a second home. A close family member is paying the mortgage. However, the property does not cash flow. we owe About $48K on the primary home. We would like to purchase an investment property. Should we wait till we paid off the $48k before polling the trigger? If not, what would be our options?
Hi, my partner and I paid off our primary home. we then reified, and purchase a second home. A close family member is paying the mortgage. However, the property does not cash flow. we owe About $48K on the primary home. We would like to purchase an investment property. Should we wait till we paid off the $48k before polling the trigger? If not, what would be our options?
I’d take use this most recent purchase as a case study to figure out how your next investment can be purchased to cash flow positive from the start. Practically for this home now, can you raise the rent, find other sources of rental income, or reduce expenses to make the property cash flow positive? Is the property worth holding long term as an appreciation move even if it doesn’t cash flow positive?
I'm not too concern of the property not cash flow. My mean concern is, should we pay off our primary home first, or should we reify the second property, in order to purchase our third property?