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Okay, I’ve been brainstorming about how to pay off my mortgage quickly and I’ve come up with this idea. I owe 110,000 dollars on the home with a 15 year loan with a 2.625 interest rate. The mortgage is $2000 a month.
If I rent it out I could potentially get $2400 a month and my plan would be to live with my parents and make double payments on my property. I’m considering doing this because I want to retire younger if possible and I would like to have a paid off house when this happens. If I pay it off quickly is also give me a chance to invest even more towards retirement.
Just curious if this is feesable or seems super far fetched? If ran the numbers and it seems possible.
The renter could absolutely destroy your house too.
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- 2 months ago
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