This is our investment property:
Tal and I refer to it as our "retirement home" or "Savannah's college education fund." Tal bought this house in 2006 when he was still a bachelor. Our tenants have been living there for the last 2.5 years.
On July 30, Tal and I signed the closing documents, which legally converted the home into an investment property. With the refinancing, we also got a lower interest rate and lower payment (which equals a larger profit).
We should have our investment house paid off by the time Savannah starts college, so the rental income will help pay for her education...and fund our retirement after that.
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