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Episode Description
Should you pay off your mortgage early or buy more rental properties? The first option gives you peace of mind, while the other allows you to build wealth much faster. In this episode, we’re fleshing out both strategies so you can make the right choice!
Welcome back to another Rookie Reply! What’s better—a debt-free property or a larger real estate portfolio? The answer depends entirely on the investor, but we’ll help you determine the best path for you. As a new landlord, it’s only a matter of time before you’ll need to make repairs to your property. But what if that “repair” is something major, like replacing an HVAC unit? We’ll show you how to prepare for the worst before you buy!
Finally, how do you know if you’re analyzing a rental property correctly? It might look like a good deal on the surface, but what if you’re overlooking some major red flags? Follow our tips, and you might just dodge a mistake you could regret later!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover
Paying off your mortgage early versus buying more rental properties
Using your home equity to scale your rental portfolio faster
How to budget for major rental property repairs and maintenance
How much every rookie investor should have in reserves (per property)
Common red flags you can’t afford to miss when analyzing real estate deals
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-721.
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