Loading…
25
Had to choose between a 15 year fixed and a 30 year fixed on my first duplex in Cleveland
I went with the 15 year because the rate was 1.5% lower, but now my cash flow is so tight that one missed rent payment would wreck me, anyone else regret picking the shorter term for the lower rate?
3 comments
Log in to join the discussion
Log In3 Comments
valw365mo ago
That lower rate on the 15 year is a trap if it leaves you with zero cushion for emergencies.
6
johnflores5mo ago
My emergency fund is basically just my broken washing machine that I'm hoping holds out a little longer.
1
hayden7095mo ago
Oh come on, it's really not that bad. You just need to stash a few grand somewhere for a rainy day and you'll be fine. People act like a tight budget is the end of the world but it's just part of being a landlord.
4