re: Another Dave Ramsey Thread

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I have no other debt and am disciplined.

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I think it would be wise to pay the regular amount and save the extra $.

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You do not need Dave Ramsey's Baby Steps.

This house is primarily an investment vehicle for you. However, I would do the A/B comparison regarding forming an LLC and renting from yourself, vice your homeowner's tax deduction - if your CPA and legal counsel think it is wise, I would consider that. The catch is - you can't go fully leveraged if you are not the owner occupier. SO, I would at least have enough equity to choose this option as soon as possible - then, if you decide to move, you rent your initial residential half - and you have an instant, profit producing business, already with a nice LLC.

So, I would suggest you commit some of the $300 to $400 extra a month now. The smartest way to do that is to figure what your 15 year payment (no reason to refi right this second, unless you haven't closed, then do the A/B with a 15-year) and at least make a principal only payment for the difference between your 30 year and 15 year - even if you just do this for 24 months or so, you'll knock years off the end and get you to the equity needed, or at least more quickly, to live elsewhere and hold this property as an investment.

30-years is a sucker play, in my mind, for residential financing.