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
Paying off the 2 flat
May 11th, 2017 at 10:00 pm
May 11th, 2017 at 11:02 pm 1494543723
May 11th, 2017 at 11:25 pm 1494545115
May 12th, 2017 at 02:28 pm 1494599312
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?