Greetings BP community, I recently joined a national senior care living development team.

I grew up near San Francisco and moved to Reno, NV to live and house hack. 

If you have extra cash at the end of the month, then do double up payments on the mortgages so the principle is reduced and this will increase your heloc room.

Living in one unit and renting out the others could offset a significant portion of your mortgage, giving you extra breathing room as the sole income earner.

If the answer is yes, then it's a no brainer to make minimum payments on your 2.8% interest rate mortgage, and use the funds that you would have paid extra to pay it down faster, to either invest in more real estate, the market, or anywhere else where you can get a ROI > 2.8%.If the answer is no, then feel free to aggressively pay it down as fast as possible, to become debt-free faster, and just have a large amount of money in savings or to splurge with.The bottom line is that your 2.8% mortgage is GOOD debt.

Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes. 

I actually just did a live stream yesterday on my channel (youtube.com/@brady_morgan) that went over this exactly.

Let’s say with your plan they make an extra $100 or $200 in fees and you lose $1000 or $2,000 in bookings.

You live in a $1,000,000 house and are able to secure a HELOC for $150,000. 

The 2-3% points in extra cost are worth it if you plan on using as I described above because the use would be for a few  months at most and due to that short term use you can survive a rate adjustment up.But, if you have no plan to payoff the debt like when using for a down payment on a long term hold why pay the extra cost for flexibility and have the additional risk of the adjustable rate with the amortization looming when you can get a fixed rate second mortgage.