Should I invest in real estate or pay off my mortgage or my primary home?

I was thinking about buying a piece of property to rent as an investment but now I am second guessing myself. Should I pay off my primary home's mortgage early instead?Should I invest in real estate or pay off my mortgage or my primary home?
I think the comfort of knowing your home is paid off would be the best for most people.





If you find a good rental property that spits out a lot of profit each month then you could use that income to pay off your mortgage early-don't buy a property unless you can make a monthly cash flow on it (above the cost of insurance, taxes, principle and interest and repairs)Should I invest in real estate or pay off my mortgage or my primary home?
What an opportunity: PAY OFF YOUR MORTGAGE. This will give you an opportunity to set back some cash in savings that are secure and not subject to huge losses in a volatile real estate market. It is tempting to want to make a big killing, but there is no feeling like having no house payment and money you can enjoy without being under stress. We did it, and we are glad, glad glad.
Forget richdad.com, tax advisors, investment planners and all that mess....you need to fully understand PEACE of MIND %26amp; DEBT FREE.





Sure there's this mantra out there about ';using other people's money';, but that's a sales pitch. Plain %26amp; Simple. (to sell books, or to earn your business another way)





Being DEBT FREE NOW is more important than becoming DEBT FREE with passive income 30 years from now.





Why? Well, what's the purpose of insurance? To protect us from the ';unknowns';.





There's also this little added bonus of ';Peace of Mind';.





Opportunities to earn ';passive income'; will come later, get out of Debt, even your home debt. And if your in Austin, TX then that kind of advice actually prevents me from earning commission!
pay off your mortgage...WOW - one less bill every month...congratulations.


when your mortgage is paid in full...you now have a great asset for any future needs.


When you sell...you won't have to worry so much about not getting enough to pay off the mortgage....





Wow this is great....congratulations





good luck
Pay Off the mortgage.!!! Using mortgage interest deduction as a reason to carry a mortgage is crazy. You are gonna pay the bank $10,000 so you can save $3000 in taxes????? Just pay me the 10k and call me a charity. Real estate is a good investment but you have to consider the risk involved. If your do not rent the property or the renter misses a payment or a major repair pops up you can suddenly face losing your rental property and your own home.
Invest your money in the rental - make syure the rent will pay both the mortgage %26amp; property taxes - run the rental like a business
Pay off your mortgage.





Buying property right now does not make a lot of sense.





The real estate market has not bottomed and most likely won't bottom till the end of NEXT YEAR.





I have NEVER seen real estate turn around on a dime.





It will take years for it to bottom, then start a gradual climb up again.





Buying now is like trying to catch a falling knife.





Let the knife fall to the ground, then go and pick up the knife up once it bounces on the ground.





Too many hero's in the market right now thinking they can nail the bottom of this housing market.





Watch interest rates! If the 30 year fixed climbs above 7% this would be another negative for housing market.





Terry S.
If you file a schedule a on your 1040's most likely better not to pay off your primary mortgage, best to confirm this with your tax advisor or accountant, but normally mortgage interest represents the single largest deduction that reduces tax debt for most people. So investment property can also be beneficial in this area also, but be ready with back up funds. It is proven that people do not take as good of care of the houses they rent, repairs can be numerous. Eviction processes can take months sometimes so have enough funds available to continue paying your mortgage if this happens, you never know. Or you just these funds and invest into a high yield money market or mutual fund and watch your balance rise while still keeping liquid, just a thought. Hope this helps!