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Updated over 4 years ago on . Most recent reply
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HELOC / Paycheck Parking vs. Using $ to Invest
I live in Atlanta and have around $50-100k to begin investing in real estate - something I'd like to do within the next 6-12 months. I own a single family home with my wife with ~$250k left on the mortgage. I've read and listened to some podcasts about the idea of paycheck parking via taking out a HELOC in order to save on lifetime interest payments and own a home outright 4-5x faster.
I love the idea of financial freedom and not having a mortgage payment sooner rather than later, but at the same time wonder if the additional $ paid down via paycheck parking could be utilized in a more fruitful way. We both work, are able to save, and have a healthy emergency fund, 401(k), ROTH, and individual investment account separate from the $50-100k I'm talking about investing in real estate.
I appreciate any and all feedback and would enjoy discussing with someone willing. I'd also enjoy networking with anyone with real estate investing goals in the Atlanta or Southeastern region.