Quote:
Originally Posted by unit
>>2) Faster I pay off, I will then get better rental income.
what do you mean by this? you mean you'll have more income because you don't have to pay your mortgage for as long? i think the idea is that if you invest the money and you're far outperforming your mortgage interest rate, then despite having to pay your mortgage for longer, you have a far greater net worth.
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rental income is covering my prop fees + mortgage. I'm net positive say 100-200 dollars a month.
if i put down 10k in RRSP yes I get a huge deduction (1 time) to bring down my income tax; hoping to get tax return.
Say i pay it my mortgage off this yr... it's pure rental income I'm collecting.