Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Pay off your primary residence?
Hello,
I’m 24 and I am trying to figure out how to best invest for the future. I’m about to buy my first home.
I wanted to know though, do most people pay off their primary residence before investing in rentals?
Im thinking of Robert Kiyosaki who says if a house isn’t cash flowing it’s a liability. Also, I have read Dave Ramsey whose a proponent of paying off your house.
On the flip side I could probably use the money needed to pay off a home and invest it at a higher IRR than my mortgage and pocket the difference.
What do most folks here on BP do? Still trying to read and learn about all this.