Depends on your interest rate but I think u have gotten in the last couple years iirc so it should be decent

Regardless, Don’t have to do extremes, find the balance

1 xtra payment to principle a year on a 30 year mortgage Cuts the loan down by 7 years

15 year fixed , also substantially cuts the loan down years

One thing that nobody has mentioned here is PMI. If you have PMI on your mortgage then you should try to get rid of that quickly. It may be possible with an appraisal in this market depending on where you live.

Buy/build a property with commercial real estate financing under a business, then pay rent to your business. Just add an AirBNB ADU or room, easy money. Don't pay extra, when you sell cash out the equity and do 'like property exchange' from turn-key to slight-fixer. Profit

This post was edited by RedFromWinter on Jan 14 2022 10:51am

Just secured my 230k heloc at 3%

Gonna use part of it to finish and rent out the basement and remainder to invest in a new property. Haven't decided on resale vs pre-construction yet.

Gonna keep half of all rent going towards paying down the mortgage and heloc and the other half towards investments. Might repeat the heloc on the investment property once i have it.

not bad, whod you go with?

td

got my original mortgage with them at 1.79 fixed for 5 years fixed on 30 years amortization

This post was edited by duffman316 on Feb 17 2022 08:38pm

Renting out your house for profit is not that easy. Most of the renters, if they are working and unless they have a legit reason for not owning a home, such as their jobs being transient, all have some sort of issues with them. They are either irresponsible or feckless/shiftless, which explains their inability to own a home and have to rent. A lot of them simply work at low-paying jobs or have little job security. My point is, usually people have to rent because they are "defective" in some way and when you have to evict them, and trust me you will have to one day, it can prove very ugly and even costly. I have heard of too many horror stories where renters come back to the house to throw a brick at the window or otherwise damage the house. Remember, your house can't move, and they know where it is.

And I also don't get how people talk about making 10, 20% return investing in the stock market. Either they are financial geniuses or I am a financial dummy, cause I have been investing on and off for 2 decades and I don't see a return anywhere like that. To me the stock market is simply a giant casino waiting to evaporate my hard-earned cash. And I don't buy super-risky penny stocks either, my latest investment is General Electric, one of the oldest names around. And I am stuck, waiting for my shares to rise up high enough so I can get my money back relatively unscathed and get the hell out.

Just index your money. The annualized return of the S&P 500 is something like 9-10% over the past 40+ years.

Its people who hold cash waiting for buying opportunities or try to be cute with things that miss out. For instance, if you missed the best 10 days in the past 38 years because your money is out of the market those days your returns would be cut in half.

This post was edited by SBD on Feb 28 2022 11:37am

this

money working is the way, rich dont work for money

This post was edited by Clydeknows on Feb 28 2022 09:19pm