On... To Mortgage or Not?
To mortgage or not to mortgage, that is the question. I say, to mortgage, at least at this point in my life. Let me tell you a story about a friend who I made back in 2004. We joined the company at about the same time. One day, we were having dinner and he asked me, "If you have enough money, would you pay off your mortgage? Or will you use your money to get extra mortgages and buy more properties?". Guess what my answer is at the time. Pay off my mortgage. He chose the latter. And now 20 years later, that man is a multi millionaire. And I'm just me, still grinding to make my first million. As a rule of thumb, always put your money where the return or interest is the highest. For example, if there are 2 banks, put your money in the bank which is paying the higher interest. So, my friend chose the right path and I chose the wrong one. Why? Consider this. Which is higher? Property appreciation rate or the loan interest rate? If a property appreciates 10% annually and your m...