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Reply to "Pay off home mortgage or pay off investment property?"
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[quote=Anonymous]If you don't have difficulties paying the two mortgages, I would not be too quick to pay either or both of them off. The advice to invest the money makes sense especially if your mortgage rates are in the 3% range. But the stock market is high right now and jumping in now would make me very nervous. A financial planner would probably advise you to divvy up your 350k among savings, investments, and paying down debt. Also, Even if you pay off the rental prop mortgage & rent it out, you may not have to pay income tax if your expenses & depreciation are high enough. But in general I would stay as liquid as possible. Once you pay off those mortgages, you wipe out 350k and getting money back out from the properties is a huge PITA. And expensive. [/quote]
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