Pay off car loan or save to buy first house with a basement apartment to rent out? (CA)

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_Mr_E is in California

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I currently have $19,000 remaining on my car loan @ 3.5% interest. I recently upped my monthly payments to $600/m. I have the idea that I would like to buy my first house asap and make sure it has a basement apartment I can rent out. My thinking is the sooner I do this, the sooner I can collect paying rent and the sooner I'll have the house paid off so I am able to buy another and move out, leaving the top floor to also be rented out. I have a lot of money in different things but I also have another $600 / m to add to this house fund... Or should this extra $600 just be going to pay off my car loan as soon as possible?

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Profile updated: 5 days ago

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_Mr_E

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California

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Posted: 11 years ago
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