Selling 2+ acre lot to pay off primary residence faster {worthwhile? Y/N?}

[Alonzo Garza]

Hello BP,

In the spirit of Robert Kiyosaki's definition of an asset being something you own that generates you money, I've been thinking about making a move which would entail selling my 2+ acre lot in a beautiful hill country gated community ( dancingbearliving <dot> com ) and taking the proceeds from that to pay down my primary residence much faster (I own the land outright, fully paid for, have deed, title, etc...)

I define the land as a liability because it's not generating income for me; rather it is costing me in annual taxes.  So by this definition I feel my home can become an income producing asset for my family must faster if I were to pay down the mortgage that much faster and get renters into it.  Rental market is still HOT in San Antonio, TX.

In the long run, I am building my asset portfolio and if you compare my current primary residence to my lot it's easy to conclude that the true asset here is the home due to the following factors: 

• Real Estate (in this case, my primary residence) appreciates in value, increasing my net worth
• I can have renters in my primary residence, which would generate income thus turning my investment into an income producing asset (something I can't do with my land)

So I'm looking for some feedback from all my peers here @ BP.  Is this a good strategy?

Appreciate any feedback, PM me with any questions if you don't feel comfortable posting on this feed.

Thank you,

Alonzo Garza from San Antonio, TX