|
In my opinion there are much better vehicles to hang your hat on for your future. I agree having real estate should be one of the pillars in one's savings/investment portfolio. But to put a significant amount of your money into an asset vehicle where it is NOT liquid at all nor is it a cheap means of pulling money out. The only way you can easily tap into the equity of a home is through a home equity line of credit. Which still has an associated cost and risk with it. If you need all the money out of your home, you're dealing with the time it takes to actually sell the house which is dependent on current market conditions and the obligatory 6% commissions to be paid out on the selling price.
I purposely chose not to pay off my homes early. I have 30 years fixed loans on both properties at a low interest rate (3.25 and 3.75%). I have no incentive of giving up that cheap money when I feel the extra money I would sink into the properties are better utilized in other investment vehicles.
|