Reply to spinoff: Dave Ramsey and second houses

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[quote=Anonymous][quote=Anonymous]I think I can pay off my credit card debt in about 6 months because I took a second job and one of my kids is going to public school soon (hallelujah.) But I am starting my own business (have been basically doing this but consulting for someone else so I know this will be ok long-term.) But when you consult on your own your pay comes in waves so having less debt/fewer monthly payments is nice. But sounds like folks are leaning toward us keeping it for the tax benefit.[/quote]

You don't sound spendthrift, so the fact that you have CC debt doesn't concern me as much as it would in general.  You also sound like you're on track to pay it off this year.  If you look at your tax savings from the property, how does it compare to the interest accrued on your CC debt?  That's another way to evaluate if it's worth it.  I agree with the PP that one way to evaluate this property is to get an idea of how much not having the cash from selling it has cost you.

Another thing to consider is whether you could raise the rent through a few small improvements.[/quote]

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