All Forum Posts by: Account Closed

Hi Readers,

Question for anyone who is currently receiving rental income - what are you doing with that money?

I have a multi-family property in NYC where I am cash flowing anywhere from $300-900 a month depending on the season (heating bill during New York winters are no joke!). I’ve been putting away all income thus far in a high yield savings account to cover any repairs, etc. I have a ~$10k cushion and now thinking about how I can use that cash flow in a more meaningful way.

Know some people use the money to pay off the mortgage quicker. While it would be great to be debt free in under 30 years, I don’t think there is an absolute need to do this. My tenants are paying off my mortgage and think there are other higher returning opportunities.

Should I be reinvesting my cash flow into my taxable investment portfolio to help support my goal of early retirement? Are others using that money to save for more rental properties? Should I continue to build up a larger cushion for any surprise house expenses? Welcome any and all thoughts!