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Buying & Selling Real Estate

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John P.
  • Investor
  • Vacaville, CA
241
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429
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Re-Fi and invest or pay off mortgage

John P.
  • Investor
  • Vacaville, CA
Posted Jul 11 2016, 07:51

With interest rates so low I am debating about re-fi'ing our home mortgage and buying some investment properties with the money.  For simplicity let's just say the home mortgage is paid off. Let's say house is worth $750k.  I believe I can get a 15 year re-fi mortgage at, or just under, 3%.  My income has me in phaseout for deductions so I do not get full value for tax deduction but still some benefit.  Am I being too conservative to just sit on a paid off house?  I could easily get $600k out of the home to invest and, most likely, have no problem paying the mortgage with the rents. I would love some insight/encouragement from you experts. What would you do?

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