If I pay off my rental mortgage, my cash flow will definitely increase. It has been a year since I paid off my last mortgage, not literally my last mortgage, but the most recent one I paid off.
My investment account balance has grown back to where I was before I paid the mortgage off, and then some. So, I am now wondering if I should pay off one additional mortgage. There are a lot of things to think about before you make a sizable payoff. What are the other uses of the capital? How strong will your cash flow be after the payoff? What are the alternative investments, such as the stock market?
Here is the analysis that I am going through.
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It’s not always fun and games when you are a landlord. Life is not always fair, and even in a win/win situation someone loses more than the others. In the landlord game, you need to win enough to be profitable.
Landlording is not always making large banking deposits and Caribbean vacations. Sure, around the world trips often come with owning Real Estate, but you still need to earn it. Here are some of the dirty truths about landlording.
Disclaimer: Show me a landlord that is not in the business to make money, and I will show you a manager for government housing.
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It’s no secret that the Federal Reserve is making money. Most of our products sold in the US, except rents, are imported. Inflation will likely start to take effect. What happens to your tenants, and your profitability, is in your control. Continue reading “Inflation and Its Impact on Rents and Tenants”
Every property needs maintenance, you must understand how to budget for maintenance. The renter’s damage deposit is for just that, damages. It is not for routine maintenance, It is not for wear and tear. Things like carpet replacement when it has reached its depreciated lifespan, appliances, painting, cleaning, new windows, kitchen cabinets, new roof, etc. Continue reading “Allocation Budget for Maintenance”
Carpet vs Laminate Flooring.
This is an important question for all landlords. Carpet can be ruined after one tenant, even after only a few months. Laminate flooring is generally more durable, but more expensive. Laminate flooring can also be ruined by water.
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