Quote:
Originally Posted by bimmerfrk
True not arguing here.
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Don't get me wrong, I think real estate should be a part of an individuals portfolio/investment strategy. Heck I own two homes. But real estate is really a different type of investment with its own set of rewards and risks.....and headaches.
I primarily view my homes as places I live in. I don't look at them as an extra piggy bank to pull money out of. But I do have a HELOC on my primary home which I have used to put money back into the home with regards to home improvements and to have something as an extra emergency reserve.
I also take on the mindset that I will not pay off either home early. I'm taking both notes to term. With my primary at 3.75% fixed for 30 years and my vacation home at 3.25% fixed for 30 years, there's really no incentive for me to want to do so. The money I would have sunk into putting equity/principle into the home I have dropped into retirement and non qualified investments. The general guidelines for net worth XutvJet put up...I comfortably fall into the range for my age group without factoring in any of the equity in both my homes.