Shane I do not have any rental properties and the advice previously given seems sound.
The only thing I can offer (which is partially repeating some things) is that you can deduct the tax on investments and would be better using equity from one rental property to buy another.
I also have read Rich Dad Poor Dad. He offers some perspectives that I had not previously considered.
Historically, as Italians, we are conditioned to pay off a rental property, have zero mortgage, save a down payment and then do it again.
The option offered in the book is not worrying so much about equity and bringing in positive cash flow monthly. (And by your previous post, by losing $100/ month on your property, you seem to be in my traditional mindset.)
It's a good read, imho.
I don't agree with all of his teachings, but the more you know....
You are welcome to come by and have my copy.
I always keep books thinking that I'll reference them in the future, but I rarely do.
Lmk
Sent from my Pixel 3a using Tapatalk
The only thing I can offer (which is partially repeating some things) is that you can deduct the tax on investments and would be better using equity from one rental property to buy another.
I also have read Rich Dad Poor Dad. He offers some perspectives that I had not previously considered.
Historically, as Italians, we are conditioned to pay off a rental property, have zero mortgage, save a down payment and then do it again.
The option offered in the book is not worrying so much about equity and bringing in positive cash flow monthly. (And by your previous post, by losing $100/ month on your property, you seem to be in my traditional mindset.)
It's a good read, imho.
I don't agree with all of his teachings, but the more you know....
You are welcome to come by and have my copy.
I always keep books thinking that I'll reference them in the future, but I rarely do.
Lmk
Sent from my Pixel 3a using Tapatalk
