Emily (Caller)

And I want for my future just to have an extra income.

I want to know if it would be smart.

to get the equity out of that rental property to purchase either do a flip investment or just to get another property, a rental property, so I can have that reoccurring income for the future.

Yes, but the thought is that we pay off the rental property and in a couple of years move into it and sell the house that we are living in now because the house that we're in now, we purchased it because, you know, we have a lot of kids and soon, you know, they'll be out.

What do you owe on it?

On our house now that we live in, we owe $200,000.

Okay.

It kind of defeats your idea.

So what I'm in my head, like, I don't know if I'm explaining it correctly or not.

Well, no, my kids are still, the oldest is 15.

So, like I said, you know, once they get to that age.

Okay, I wrote this down to keep it quick.

So I am a certified financial coach for a local credit union, and my husband let his life insurance lapse.

So it's been two months, and it doesn't matter what I say, he won't get life insurance.

So it comes out annually, and we've only been married for nine months, so this is our first go-around with that.

And I was like, hey, you need to check that it hasn't come out of the account that was supposed to come out.

Can you check that?

And he was like, no, I think it's bumped in with yours.

And I'm like, that's not how that works.

And this has been the last two months.