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Industry-wide layoffs tomorrow or nah?
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With current interest rates, no
Current state: 3k CF / 30k Invested = 10% return
What you’re proposing: 12k CF / 155k Invested = 8% return
Why not use the 125k to buy another couple units?
EDIT: Math
Would love to know more about your purchase here. What location? Has HOA?
From what it looks.. you are making $1000 per month rent on a $160K property. That’s pretty awesome.
Great!
Which city is this?
If you pay off the mortgage won’t it increase tax owed at year end due to a smaller expense?
Buy another property
With rates this low, go for another property! What’s your current rate?
Yes I want to buy another property maybe multi unit but market has been hot. Same property will cost me 200k. And right now it’s like finding needle in the haystack
With the appreciation, even on paper - don’t you calculate your return on perceived value?
ie 3K return over 60K now (assuming you sell at 200K and banks take its share. Leaving you with 60K) = 5%
Vs. calculating it as 3K on 30K you invested.
Mentor
Buy more properties or invest In stocks. Your rent will rise over time and btw the tenants are paying all your equity.