Hey guys. What is the smart move? I currently owe $308k on my mortgage. I've always wanted to live mortgage free. I'm not sure if it's a smart move to use up my savings to pay it up or invest in real estate instead?
What are the cons and pros of paying off the mortgage?
Thanks in advance.
Do both. Just put all your extra money into both. Once you have a deal insight, use more of your money to make the deal happen. 308K networth is more valuable. Once you learn how to leverage money, switch the model to more debt. Finding deals is the hard part, not money.
It is not smart for any investor to leave their money dead and buried in a property earning no return however may do so out of fear.
Fear is a powerful emotion. Sometime even being smart is not enough.