Pay off entire mortgage investment property

[Protocol]

If there is no debt and no mortgage then it becomes profitable

This is false.

Profit = gross rental income less interest less other expenses (e.g maintenance).

The repayment of capital is not an expense.

The repayment of capital is saving, it is not a cost.



Think about it, you only pay tax on profits. Therefore, if you are paying tax, then you must be making profits!!!

 

[moneymakeover]

Like many Irish landlords, there seems to be a confusion here between cashflow and profits

And the debt is paid off
Like many contributors in AAM there seems negativity towards property independent

Thanks for all the insights

Couldn't do it without you

 

[moneymakeover]

If it helps the pedants here, I have re worded the question removing mention of profits

Now guys... Bring it on!

 

[DannyBoyD]

paid off their investment property loan entirely

Yes. And so these days I pay cash for my properties.

 

[Luternau]

Correct, my cash
And the approach is correct too
And you not answering my question

@DannyBoyD is correct. Your approach is wrong.
Strange posting style for someone looking for advice or asking a question, obscure as it is.

 

[moneymakeover]

@DannyBoyD is correct. Your approach is wrong.
Strange posting style for someone looking for advice or asking a question, obscure as it is

just read the question