Personal Investments • Helping my mom with finances

I hope that debt wasn't low interest that you paid off.

I think they were all at least 6%. As I mentioned, the HELOC was 7-9% (it was at 9% when I paid it off).

Why get rid of the rental? If it's cash flowing seems like a good month to month income source. The property itself can also appreciate and she can depreciate if for tax purposes.

Sorry if this wasn't clear in the original post: the rent is going towards paying off the house. That is, what my aunt will owe on the house when my mom sells it to her is reduced by any rent she pays. My mom is not making anything off the house.

Statistics: Posted by hansa — Wed Jul 17, 2024 12:36 pm — Replies 2 — Views 96

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