Pay Down The Credit Cards or Buy An Investment Property?
14 May, 2008
(2) Comment
Chris over at Kansas City Real Estate Investing has a great post that many people don’t think about. Go on over and check out why it may be better to pay down your credit cards than to Buy An Investment Property.
Have you always wanted to buy investment property, but never knew where to start? Don’t Wait! Get Started now.
Categories :
Buying Property
Aside from the better return on your money of paying down credit card debt, you also get this return tax free. If you make a 15-20% return on your money investing in real estate or any other investment your looking at a minimum of 15% tax and maybe even more. If you pay down even a 10% rate on a credit card you get your money back by not paying the finance charges and the government gets nada….
Wow, it is exactly this kind of post that really makes me love your blog – you’re not just saying, “Invest! Buy with me!”, but actually giving people good advice (like, pay down your credit cards first.)
Investing in real estate is a wonderful, but LONG-TERM proposition, and it’s best to be totally prepared when doing so (and thus avoiding adding to the foreclosure rates!)