Nitish
Appearances
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
Um, uh, and, uh, yeah, so we were just kind of concerned, uh, um, whether to kind of keep the rental property, uh, or sell it off. Um, the rental is coming like pretty nicely. Like it's around, um, 4,500, which is kind of like covering all the mortgages and, uh, any other insurance and stuff like that. So I was just wondering what your thought is on that.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
Just a car loan, maybe $40,000. Okay.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
So we have around cash coming in around 25K after all the 401K savings and everything. We have around 1 million in stock and around 401K is around another million.
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
That's absolutely correct. My wife and I, like, so my wife kind of feels that the rental is self-paying, so why should we worry about it? Let's just, like, the lenders pay for our mortgage pretty much. And I'm trying to convince kind of like lowering the risk. So I don't know. Do you remember?
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
Okay, sounds good. So I have some extra like $5,000 per month that I can contribute towards my mortgage. Do you recommend me putting that into the mortgage too?
The Ramsey Show
It’s Never Too Late to Clean Up a Financial Mess
Hey, folks. Thanks for taking the call. Sure. And I appreciate your sentiments on LA Fire. Right now, I have a question that my wife and I bought a house worth around 2.5 million. And we have another house which is worth around 1.3 million. And it has 500K remaining. We have rented it out. It's around $4,000 per month. So, um, our salary is around, um, 900,000.