Sell Or Keep?

Beth and her husband should not invest the money they get from their rental property while they still have consumer debt.

QUESTION: Beth and her husband have paid off $23,000 in credit card debt.  They own a two-acre waterfront property and can’t decide what to do with it.  Beth wants to sell it and pay off their last two debts, but her husband wants to sell the property and invest the money.  What should they do?

ANSWER: Your husband is wrong in this case.  You should sell the rental property.  You should never invest when you have consumer debt.  If your cars were paid for would you borrow on them to invest?  Pay off the cars and then invest.

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