I have a mortgage of about $400k at about 4% interest. It is currently a rental property. It was originally a primary residence but my career forced a move and I am renting in another city while I rent out my home. The mortgage payment is $2,800, and after mgmt fees I gross $4,100, netting me $1,300 in positive cashflow every month.
I have $800k in index funds. Should I sell half, pay off my mortgage, and turn my rental property into a $4,100 positive cashflow asset? Is my money better off being borrowed relatively cheaply at 4%? What would you do?
Because it isn’t a primary residence, I’m under the impression I can’t refinance at a lower rate.
Submitted September 16, 2021 at 08:07AM by NoOneReadsTheArticle https://ift.tt/3kbOK3Y
