Financing 2nd rental property
May 24, 2015 at 5:12 pm #3324
I am hesitant to take out a 2nd Mortgage on a property I bought cash but with a 401K loan. I have it rented and I am paying loan back to myself.
I”m weary of the Florida market but properties are at very low prices now and many people are renting. Any suggestions, ideas or advise?
May 24, 2015 at 9:22 pm #3325
Well, your REAL PROPERTY is far more secure than the stock market. Don’t take out a second, keep repaying to your 401k and you’ll do better than losing your money in the market on the next huge drop. Technically, if things got really rough couldn’t you live in your paid for house, just saying, you can’t live inside your 401k or the market they risk your money in…
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