Updated about 10 years ago on . Most recent reply
New to BP
I would just like to say a quick hello! I look forward to learning a lot on this website, as well as chipping in some help if I can!
I do have one question right off the bat. I am 25 years old, married with a young daughter. We bought our first rental 2 years ago. We have a safety fund set aside for the home incase of any emergencies. Expenses are just under $850 a month for the property, while we receive $1100 in rent payments. All the extra income is going back into the mortgage to pay it off early.
I want to purchase another property. Do I continue to pay the first property off with the extra income, and extra income that I make at my job until the house is fully paid off, or should I use the extra income at my job to save up for a new property?
Thank you for any advice!
Justin