Question about paying off a house loan

loaded question... what else would you do with the 40k?

if you can go get 10% return on it then i have your answer... if you don't want that risk then i have your answer

Yea I figured as much. I know jack shite about investing and I don't like the idea of money being held up in high risk investments.

Even low risk to me, the 3% return over a year, 1,200 bucks; big deal to have no access to the funds. I guess I need to look more long term as that interest compounds over time.

40k invested; 3.5% return each year
What's my net gain in 10 years anyone? It's been a minute since I took a finance class

If you plan on renting it out it may be a good idea to pay it off and start saving up for any remodeling ,repairs, or contingencies that may come up while renting.

quote:

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2 years ago for cheap. It's a small condo that went as a short sale. I honestly will likely move out before the year is over but will rent it out as I want to keep it bc of the great value.

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So you're thinking long term investment. Looking at the rental market right now it is very strong. If you can can cover your payments, insurance, and taxes with a rental payment- I would save the money and start looking for your next property. It is a buyer and landlord's market right now. The market is kind of perfect for your situation at the moment. I am assuming Baton Rouge.

Although the market is strong in both those two facets right now- end of the year it may not be the same. Likely...but no guarantee.

just curious where is the condo?

ETA: and where did u get a loan for a condo project?

not typically on a condo... but if u put 20% down likely not an issue..