Quote:
Originally Posted by corporatejay
The point people are trying to make is that everyone here is looking at having a mortgage a "40 years 0% down". Which is just patently false.
Mortgages are some of the cheapest ways to borrow money since they are a secured against an asset. Aggressively paying down a mortgage that you are paying 4% interest on vs. investing in the stock market where returns can be, in most cases, much greater than 4% is much smarter.
Being "in debt" is such a general and misleading term that it's ridiculous to get worked up about it, you need to dig much deeper to find out what someone's NAV is.
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I agree with pretty much everything here. My point I was trying to make is whether it is good debt or debt debt, it is still debt.
I have a LOC on my house and mortgages on two rental properties. I have net equity in all three, but I still have debt on all three. I'm okay being in debt as I can service it all without extending myself. I likely won't be debt free for 20 years, as I will continue to buy rental properties and financing 80% of each one. I'll sell them eventually, but to be truely debt free won't happen anytime soon.