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Friday, July 20

I've Paid Off ALL My Credit Card Debt

In less than two weeks I should close on the new house.  That's the biggest change in our lives, but there's many BIG things coming...

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.  


  1. Enjoy your vacation. From seeing your Facebook posts I know you've been working a lot. You will probably enjoy the vacation a little more knowing you don't have any credit card debt.

    1. Thanks, Andy. Work has kept me really busy. Will feel great to spend a few days doing nothing at all.

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