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Reply to "Pay off home mortgage or pay off investment property?"
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[quote=Anonymous][quote=Anonymous]Definitely pay down your investment property to start generating income. Then you can use the extra income to pay extra on your mortgage. Win-win and you need to keep your emergency savings at all times, IMO.[/quote] This makes no sense on several levels. To start with, OP's mortgage payment won't change unless OP sells or refinances, so there [i]is[/i] no extra net income. And, the net income you show when you subtract the mortgage from the rent on an investment property is just a figment of accounting. You could just as easily pay down the primary residence, re-finance [i]that[/i], and pretend the difference between the old and new montly payment is net income. Which one OP should pay down (assuming OP should pay either down at all) turns on which has a higher interest rate and how paying down each alters OP's tax return.[/quote]
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