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Paying off the 2 flat

May 11th, 2017 at 10:00 pm

today I pulled out $22750 from the rental emergency fund and tax escrow fund to pay off the 2 flat.

payoff is Monday

First 1/2 of taxes are due 5/31

I will be working next week figuring out how to balance things off and pay this borrowed money back and get taxes paid

Still I got a $5k discount on payoff so worth while

this is also my last check with 40% 401k deduction so future checks will be higher

My goal is to repay back the tax escrow and rental emergency fund this year.. and keep on saving as much as I can and meet all the other obligations

If I just put what I would have paid to the monthly 2 flat payments to paying myself back that is already $9770 approx from now through the end of the year... so my realistic shortfall is approx $12980 that I need to put new cash too.

Just cash short right now especially w taxes due.

I will update after I get rents. Rents have been more and more stable which is wonderful

Rachael

3 Responses to “Paying off the 2 flat”

  1. LivingAlmostLarge Says:

    Sounds like a lot of progress fast.

  2. LuckyRobin Says:

    Nice. Have you ever said what you day job is? I'm assuming you have one since you were talking about a paycheck.

  3. AnotherReader Says:

    She is an IT project manager on contract.

    Great news on the payoff! Get renewed and get the rest of the rentals paid off! You have self-insured your retirement with these properties.

    Once these are paid off, what's the next step? Are you going to work on the house mortgage or pile up paper assets in your taxable account?

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