621: Seeing Greene: Is Paying Off My Mortgage Early a Mistake?

Paying off your mortgage early—to some people, this sounds like a dream scenario. But to others, it could be a cash-tastrophe. We can already hear real estate investors yelling out “always use leverage”, “what about the low interest rates!?”, and “you can scale so much quicker!” Like many real estate investors, David Greene knows the power of leverage and loans to buy rental properties faster. But, it’s safe to say that for some people, paying off a property or buying a home in cash may be a much smarter move. Welcome back to another episode of Seeing Greene where David answers questions directly from BiggerPockets listeners and viewers on YouTube. This time around, we have some seriously useful questions being answered for the new investor. These questions range from when to take out a loan and when to pay off a property, how to get started in real estate in your early twenties, how to build more cash flow as your expenses increase, how to get a HELOC on your rental property, and how to raise money for a down payment. All these questions (and more) are coming up! Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot! In This Episode We Cover: Weighing the pros and cons of leverage when investing in real estate How to start investing in real estate without a ton of money or experience  Why it’s so difficult to get HELOCs (home equity lines of credit) on rental properties Real estate bookkeeping and how to keep all your accounts up to date How to finance your down payments so you can buy rental properties faster Getting preapproved for a mortgage even if you have a 1099 income  And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast David’s YouTube Channel Ask David Your Real Estate Investing Question Listen to All Your Favorite BiggerPockets Podcasts in One Place Get Your Tickets to BPCon2022 BiggerPockets Money Podcast Work with David’s Team on Your Next Mortgage David’s Instagram David’s BiggerPockets Profile Books Mentioned in the Show SOLD by David Greene SKILL by David Greene The House Hacking Strategy by Craig Curelop Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-621 Learn more about your ad choices. Visit megaphone.fm/adchoices