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KaosProperties
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Leverage or Aim to Pay Off Mortgage?
Friday, April 20 2007 01:37 PM
I am curious which is better and it's pros and cons:
1) Keep leveraging rental properties
2) Aim to pay off rental properties' mortgages
Please let me know what your point of views on the above mentioned questions.
Thanx!
Debbie
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daveg
Investor/Rehabber
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Re:Leverage or Aim to Pay Off Mortgage?
Friday, April 20 2007 02:55 PM
Since this is a buyers market I'd use the equity in the property to increase your holding. Thats I'm doing with my 3 flat. There's gobs of properties for sale and either now or in the fall will be an excellent time to bargain with someone motivated.
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Randy Hughes
SFH Master Advisor
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Re:Leverage or Aim to Pay Off Mortgage?
Friday, April 20 2007 08:16 PM
Debbie,
From an asset protection standpoint its best to own your property with either as MUCH debt as possible or FREE and CLEAR. Jim and I will be teaching an asset protection class in November of this year...you might consider coming...it is going to be a lot of fun and VERY informative!
Randy Hughes
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