My sister and I have an investment property and the rent is covering the monthly mortgage. Should we pay the mortgage monthly or every two weeks to speed up the payments?
She thinks that we should do it monthly to keep the mortgage as high as possible and get the extra write off on the tax and earn more from the monthly rent. I`m wondering if we should speed up the mortgage (pay it every two weeks). We don`t really need the extra tax write off at the end of the year. Neither of us is really sure what is best. Thoughts? Ideas? Thanks!
PS I just joined and this is my first post. What a great site!
She thinks that we should do it monthly to keep the mortgage as high as possible and get the extra write off on the tax and earn more from the monthly rent. I`m wondering if we should speed up the mortgage (pay it every two weeks). We don`t really need the extra tax write off at the end of the year. Neither of us is really sure what is best. Thoughts? Ideas? Thanks!
PS I just joined and this is my first post. What a great site!