Updated about 5 years ago on . Most recent reply
what's better? 1 mortgage or 3?
I have a free and clear homestead property. I can do a cash out refinance on the homestead to purchase 3 rental properties. Or should do separate mortgages for each property? I know the interest on the mtg for the homestead would be about 2% less and I'd only have one closing fee instead of 3, but am I missing out on any tax deductions for the income that these properties will produce by doing this? i.e. not being able to deduct a mtg cost for carry them?