All Forum Posts by: Luis P.

Hey guys. What is the smart move? I currently owe $308k on my mortgage. I've always wanted to live mortgage free. I'm not sure if it's a smart move to use up my savings to pay it up or invest in real estate instead? 

What are the cons and pros of paying off the mortgage?

Thanks in advance.

Thanks for the reply. That sounds interesting I'm going to read more about that. You think I should wait for the market to drop or just buy a few properties while I can?

Hello guys I just signed up. My friend recommended me to this site. Basically I have a house rented in Miami Springs. The house rent is $2000 per month, I am making about $700 per month after taxes and insurance.

The house next to mine just sold for $330,000. I owe about $150,000 on mine. I think I could get 5k or 10k more than that for mine due to updates.

Here are the options I am thinking of.

Option 1: Sell and buy a multi family 3+ units. (unsure)

Option 2: Sell and save the cash. (Probably going to get drilled with taxes)

Option 3: Keep the house rented.  (Fear of market dropping and loosing equity)

What would you guys recommend?

Thanks in advance.