All Forum Posts by: Carrie Johnson

I basically want to get the monkey off my back, but I also know that when this property is paid off, it could bring in 8-9K a month 20 years from now (assuming rent increase).

The best Ive seen is 5 percent and if I refinance, I lose the option of loan forgiveness because it will not be a direct loan if I refi. Thanks for your help.

Hi everyone,

I'm a big fan and followed a ton of the posts. 

Right now, I own a multifamily property bringing in 2K cash a month (if I don't live here)...Right now, I live for free and make a few hundred bucks a month.

I have 180K in student loans at 7% a month, so nearly 900 alone is just the interest. The kicker is that I work for a non profit organization, which is supposed to forgive my loans in 7 years. But, with the current administration, I don't think that program will last long. 

I could sell my place and pocket 250K before taxes and pay it all off like that. 

I have about 70K in savings for another duplex or triplex and some additional backing needed to start this again (but without all the lingering debt.

Any thoughts on hanging onto the property or just selling it and moving on? 

Having a ton of bad debt is not only stressful, but it makes it difficult even when you want to pull money out of your house to use towards a down payment on another rental. 

Thanks for your help!

Carrie