Dear Dave,
My wife and I own three commercial properties. They are all leased out long-term. Currently, we owe about $400,000 each on two of the buildings, and a little over $500,000 on the other. The only other debt we have is our home mortgage, and we should have that paid off in two or three years. I know you hate debt, but how do you feel about owing on commercial properties that are consistently making good money?
Dean
Dear Dean,
From what you’ve told me, it doesn’t sound like you two need to shift into panic mode and start selling everything in sight. But I do 100% believe you and your wife should sit down together, and formulate a sensible plan that will enable you to systematically work your way out from under all that debt.
