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Investors & landlords
General rule of thumb ... never pay $1 in interest just to possibly get a few cents back on your income tax return. Pay off the loan as fast as possible to reduce the amount of interest you will pay in the long run.
The difference between paying $100K in interest and $20K in interest is a net savings of $80K which is way better than getting $10k - $20k in reduced taxes over the same time frame.
‎April 28, 2021
12:30 PM