moneymaker
Recycles dryer sheets
- Joined
- Mar 13, 2013
- Messages
- 106
Hi all,
Just sold a rental home I had and am contemplating what to do with the $75k I’m walking away with. I have a HELOC on another home at 5.75% interest rate with a balance of roughly $80k that I’m contemplating using the $75k to pay off the HELOC.
I don’t have any other debt. But would it make sense to pay off a HELOC with a 5.75% rate or just keep paying the minimum on it and invest the $75k in the s&P 500 index fund?
I’ve also thought about using the $75k to put towards a down payment on a vacation condo at the beach that we’d use to rent out?
I guess the big question is do I pay off the HELOC or not? Thx
Just sold a rental home I had and am contemplating what to do with the $75k I’m walking away with. I have a HELOC on another home at 5.75% interest rate with a balance of roughly $80k that I’m contemplating using the $75k to pay off the HELOC.
I don’t have any other debt. But would it make sense to pay off a HELOC with a 5.75% rate or just keep paying the minimum on it and invest the $75k in the s&P 500 index fund?
I’ve also thought about using the $75k to put towards a down payment on a vacation condo at the beach that we’d use to rent out?
I guess the big question is do I pay off the HELOC or not? Thx