Pay off my personal home or buy another rental property

[Heidi M.]

I going to be receiving a large sum of money in the near future.  Should I invest in another property or pay off my personal residence?

[Elizabeth Colegrove]

Everyone is going to give you a different opinion and it all depends on your comfort, job and financial position.

My husband and I are young in stable careers and are all about leverage. It is more important to use to build up our houses and rental properties than have a paid off house Therefore we would reinvest it into another rental. Therefore our investments look more like a faster moving line.

I know other who are at the end of their careers, have health issues, etc. Therefore while they want to grow it is about growing perfectly, safely as they grow as a complete fully paid of mass.

So it really depends on what YOU want as an end goal. Do you want safety or another asset someone is paying off.