Hi im looking for some guidance.
Would it be better to Pay lump sum off mortgage or use it as a deposit to buy another property.
20k sum.
Buy another property as a long term investment. There houses being sold for 250k that are making 2k per month in rent. All going well you would have deposit back in 3 years and equity in the house built up.
My current mortgage is 275k, house value 380k
Annual pretax income 64k.
Just undet 29 years left.
2.15%aib green rate.
Thanks
Would it be better to Pay lump sum off mortgage or use it as a deposit to buy another property.
20k sum.
Buy another property as a long term investment. There houses being sold for 250k that are making 2k per month in rent. All going well you would have deposit back in 3 years and equity in the house built up.
My current mortgage is 275k, house value 380k
Annual pretax income 64k.
Just undet 29 years left.
2.15%aib green rate.
Thanks