All Forum Posts by: Candice Ravin Woodfin

Hello from Hueytown 

Yes ma’am. 

I was like this when I was a Dave Ramsey guy 8 years ago. I almost had my mortgage paid off and no debt. Then I learned to leverage my way to wealth so I did a HELOC to buy a couple rentals. Then a cash out refi later on my primary to buy three more rentals. Since then I've grown to 17 rentals by leveraging and have no regrets. I use equity that's just sitting there doing nothing to generate passive income and take on good debt my tenants are paying off. Our rental income was more than twice what my wife's income was as a registered nurse, so she retired last year. RE has given us great cash flow and freedom.

This post.

@Candice Ravin Woodfin I’d talk to a real estate investor friendly lender and get their opinion on it. We are only looking through a small lens of your entire financial situation, risk tolerance, goals, etc. So a lender will be able to sit down with you and go over all of those things with you.

If you’re only months away from paying off your mortgage, it seems to me you are very conservative with your risk and I’d say continue to pay that off and save your money for a down on the next property. There’s nothing wrong with that strategy. Everyone’s goals, risk tolerance, etc., all differ, so whatever makes the most sense to you is what you should do. Good for you in getting that almost paid off!

I'm months away from paying off my mortgage. I had planned to research 1st quarter, pay off debt and then hit the ground running.  I have no desire to househack. So now I'm wondering should I take that lump and use for down payment instead of paying off my mortgage.