Dave Posted April 6, 2018 Share Posted April 6, 2018 1 minute ago, ArcticCrusher said: He is though. If you have a property with a 200K mortgage and 2 million invested separately, do you consider yourself to not be debt free? Holy shit!!! 150K is not a lot, but certainly enough to look at options. Paying off the mortgage is good very conservative advice. Ive always been conservative 1st 1 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted April 6, 2018 Share Posted April 6, 2018 19 hours ago, racer254 said: Being debt free is worth a hell of a lot. There would be a hell of a lot of less stress in the world if everyone believed that debt free was the way to go. Manageable real estate debt is fine. I personally detest conventional auto loans and credit card debt. I’m a believer in having liquid, easily accessible assets. I personally like to have $20k on hand. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 6, 2018 Share Posted April 6, 2018 9 minutes ago, DAVE said: Ive always been conservative 1st Well, I'm a pretty aggressive risk taker. Just trying to illustrate other options/ideas but if your asking on FS, you're likely better off to pay the mortgage. Quote Link to comment Share on other sites More sharing options...
Dave Posted April 6, 2018 Share Posted April 6, 2018 1 minute ago, ArcticCrusher said: Well, I'm a pretty aggressive risk taker. Just trying to illustrate other options/ideas but if your asking on FS, you're likely better off to pay the mortgage. Some people aren't good with finances....it never hurts to ask for advice. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 6, 2018 Share Posted April 6, 2018 26 minutes ago, DAVE said: Some people aren't good with finances....it never hurts to ask for advice. Nothing wrong with that, however when the best advice has no rewards for those advising, don't expect honest answers. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted April 6, 2018 Platinum Contributing Member Share Posted April 6, 2018 1 minute ago, ArcticCrusher said: Nothing wrong with that, however when the best advice has no rewards for those advising, don't expect honest answers. Correct, but it can give you a chance to look at things in a way you may not have before. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted April 6, 2018 Platinum Contributing Member Share Posted April 6, 2018 That being said its worth exactly what you are paying for it. Quote Link to comment Share on other sites More sharing options...
Dave Posted April 6, 2018 Share Posted April 6, 2018 6 minutes ago, ArcticCrusher said: Nothing wrong with that, however when the best advice has no rewards for those advising, don't expect honest answers. My answer was honest and what ive done. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 6, 2018 Share Posted April 6, 2018 11 minutes ago, steve from amherst said: Correct, but it can give you a chance to look at things in a way you may not have before. Best to educate yourself and research. 6 minutes ago, DAVE said: My answer was honest and what ive done. Same. Quote Link to comment Share on other sites More sharing options...
Trail cat Posted April 6, 2018 Share Posted April 6, 2018 Play both sides of the fence. Take 75k and apply it to the mortgage and invest the other 75k. Then stop worrying about what if scenarios Quote Link to comment Share on other sites More sharing options...
Whiskey Tango Foxtrot Posted April 7, 2018 Share Posted April 7, 2018 11 hours ago, Trail cat said: Play both sides of the fence. Take 75k and apply it to the mortgage and invest the other 75k. Then stop worrying about what if scenarios Neal?? 1 Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted April 7, 2018 Share Posted April 7, 2018 1 hour ago, Whiskey Tango Foxtrot said: Neal?? I really should just become a partisan hack, so much easier for labels! Neal Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted April 7, 2018 Share Posted April 7, 2018 15 hours ago, ArcticCrusher said: He is though. If you have a property with a 200K mortgage and 2 million invested separately, do you consider yourself to not be debt free? Holy shit!!! 150K is not a lot, but certainly enough to look at options. Paying off the mortgage is good very conservative advice. I missed the part about having 2 million separately invested. I thought his choice was between having 150 grand that he invested or using the money to pay off his mortgage. If he has 2 million cash he's fine either way. But if he invested 150 grand and interest rates climb while the stock market tanks, then he won't be fine. He'll have to come up with extra money to pay his mortgage or be forced to take out his investments at a loss. 1 Quote Link to comment Share on other sites More sharing options...
Dave Posted April 7, 2018 Share Posted April 7, 2018 1 minute ago, revkevsdi said: I missed the part about having 2 million separately invested. I thought his choice was between having 150 grand that he invested or using the money to pay off his mortgage. If he has 2 million cash he's fine either way. But if he invested 150 grand and interest rates climb while the stock market tanks, then he won't be fine. He'll have to come up with extra money to pay his mortgage or be forced to take out his investments at a loss. 150 is all i saw as well....pay off the house. 1 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 7, 2018 Share Posted April 7, 2018 55 minutes ago, revkevsdi said: I missed the part about having 2 million separately invested. I thought his choice was between having 150 grand that he invested or using the money to pay off his mortgage. If he has 2 million cash he's fine either way. But if he invested 150 grand and interest rates climb while the stock market tanks, then he won't be fine. He'll have to come up with extra money to pay his mortgage or be forced to take out his investments at a loss. He os debt free. Every year widens the gap. Pay attention. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted April 7, 2018 Share Posted April 7, 2018 1 minute ago, ArcticCrusher said: He os debt free. Every year widens the gap. Pay attention. So the 2 million was bullshit. Typical Trump lover. Lies don't matter. Quote Link to comment Share on other sites More sharing options...
racer254 Posted April 7, 2018 Author Share Posted April 7, 2018 17 hours ago, ArcticCrusher said: He has that regardless. Put it in fixed income is a slow death, so he might as well pay off the mortgage. He could try equities. but there is risk no doubt. He could also start a business or take one over from someone wanting out. He could take half 75K and put it down on a rental for say 350K that caries itself and then do it again. Now he has two 350K properties each gaining 3% >10K per year on a 75K x2 investment, plus rent goes up. In 20 years when all properties are paid do you think he would be further ahead by paying off the mortgage? That was my thinking 10 years ago. It put me in a good spot, but rentals can get old fast. Just interesting to see the different views on this forum. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 7, 2018 Share Posted April 7, 2018 13 minutes ago, revkevsdi said: So the 2 million was bullshit. Typical Trump lover. Lies don't matter. Try to follow the bouncing ball Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 7, 2018 Share Posted April 7, 2018 12 minutes ago, racer254 said: That was my thinking 10 years ago. It put me in a good spot, but rentals can get old fast. Just interesting to see the different views on this forum. They van be a pain Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted April 7, 2018 Platinum Contributing Member Share Posted April 7, 2018 15 minutes ago, racer254 said: That was my thinking 10 years ago. It put me in a good spot, but rentals can get old fast. Just interesting to see the different views on this forum. Ex buss partner used to have a lot. Got sick of it and started buying up commercial rentals. They don't have the same rights and therefore actually have a desire to pay the rent. Quote Link to comment Share on other sites More sharing options...
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