Updated over 10 years ago on . Most recent reply
Pay off mortgage or buy a property?
I'm being gifted $150K, should I pay off my mortgage (owe $175K) or buy a $150K house cash?
Most Popular Reply
Andrew Syrios
Pro Member
- Residential Real Estate Investor
- Kansas City, MO
- 5,100
- Votes |
- 10,504
- Posts
You could loan the money to me... just an idea...
I would need more info to feel comfortable with a recommendation, but I usually lean toward buying more. The biggest advantage to real estate is the ability to use leverage and still protect yourself by getting a good deal (which you can't do very much in the stock market). I mean, you may even want to get some loans and buy a few houses with that $150K.