Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Erik Williams

Erik Williams has started 5 posts and replied 11 times.

Post: Mortgage interest deduction on primary resident vs mortgage interest deduction on rental property

Erik Williams
Posted
  • Investor
  • Parker, CO
  • Posts 11
  • Votes 2

I was wondering if there is a difference between the mortgage interest deduction on my home resident vs mortgage deduction on my rental property.I am trying to increase monthly cash flow by using the equity in my properties.  I am trying to decide if I should pay off my rental property with a HELCO on my current residential property, or just refinance my rental property.Paying the rental property off with the HELCO would be cheaper than a refi on the rental property, but I am just worried about the tax implications.If we pay off the rental property, we will have less to deduct from the profits of the rental property, and more of that money will be considered normal income.  With the interest rates being about equal, which is the best way to go.Thanks for the help