Credit Card Debt No More
Last year I decided to pay off one of the rental property mortgages using 0% credit card advance checks. Then earlier this year I spent a significant amount rehabbing another rental property. Finally, we've been spending big bucks getting our current house ready for AirBnB. It's been a great year for my stock investments, so I sold quite a bit of stock and paid off all my credit card debt. As an aside, I also eliminated my margin debt in the brokerage account. That will save money on margin interest.
About to Pay off the Car Loan
I owe about $4,000 on the Sonata, and the interest rate is less than 2%. So why pay it early? I want to change my insurance coverage by eliminating the full coverage portion. I haven't priced it out yet, but there's bound to be some savings. I intend to use cash flow from August rents to pay it off.
An Upcoming Vacancy
At the end of August I have a tenant moving out from one of the Birmingham townhouses. I am happy about this because I haven't been charging enough rent. This is my lowest rent property, at $595 a month. I have similar townhouses that I rent for $700. I'm thinking about experimenting with this property. The kitchen is due for an upgrade and I want to eliminate the dishwasher. I also want to see if sprucing things up makes any difference in the rent I can charge and the length of time the next tenant stays. More on that later.
Saving the best for last. I found a great deal on a Playa del Carmen all-inclusive, so we are going there in August. I've been working a lot in 2018; now it's time to relax a little.