All Forum Posts by: Kirk Perecich

@Michael Lowe You'll win them over when you do good deals and the proof is in their face. Then they might even want to invest with you

Hey guys, I wondering what you think about the idea of paying off your personal mortgage vs investing while the market is inflated.

I have some money just sitting in the bank making nothing.

I've been saving up to buy my first rental property, however the prices are high because of where we are in the market cycle, and prices are high in my area generally (Chicago western suburbs).

I'm also inexperienced, so starting when the market is down might be a safer first investment to learn on.

Would you advise paying down my mortgage and then using a HELOC, cash out refi, or something of this nature, to help fund investments when the market is down?

I'd also really like to know what everyone thinks about the "velocity banking" strategy, wherein you "pay off your mortgage in 5 to 7 years" with a HELOC. I have watched several videos about this and still don't understand how it works, or even IF it works.

To those of you who think the "velocity banking" strategy does work, I'm curious if YOU think paying down my mortgage, while the market is high, is a good idea, specifically because of the "velocity banking" strategy.

Thanks for your time!