Updated almost 6 years ago on . Most recent reply
In need of some advice
So I just purchased my very first house, which is also my current residence for my wife, two children and myself, I had to completely drains my savings in the process. I know I'm at least 1-2 years out from being able to purchase my first rental property because i have absolutely no capital saved. My question is, would i be better off dumping all my extra cash into the principle of my house to build equity that i can later use to help purchase my first investment or would i be better off putting my money into a savings account ?
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@Christopher Nathaniel Hart No I absolutely would not put extra money against principal of your home until you have built up liquid reserves. Money tied up as equity is not easily accessed. money in the bank is.