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Is It Better to Pay Off Your Owner-Occupant Mortgage When Nomading?
Manage episode 379027362 series 3363819
תוכן מסופק על ידי Real Estate Financial Planner LLC and James Orr and James Orr. כל תוכן הפודקאסטים כולל פרקים, גרפיקה ותיאורי פודקאסטים מועלים ומסופקים ישירות על ידי Real Estate Financial Planner LLC and James Orr and James Orr או שותף פלטפורמת הפודקאסט שלהם. אם אתה מאמין שמישהו משתמש ביצירה שלך המוגנת בזכויות יוצרים ללא רשותך, אתה יכול לעקוב אחר התהליך המתואר כאן https://he.player.fm/legal.
Most real estate investors consider themselves financially independent when the income from all of their investments exceeds their personal expenses. To achieve this, they need net positive cash flow from all rental properties after all expenses, any income generated from stocks, bonds, or other investments times a safe withdrawal rate, and any social security, pensions or annuities.
On the expense side, they need to consider all personal expenses, such as food, taxes, insurance, entertainment, healthcare, and housing. If they have a mortgage on their personal residence, that would include their mortgage payment. However, paying off the mortgage effectively reduces the amount of income needed to cover expenses by the amount of the mortgage payment that no longer exists.
If you have extra money invested in stocks, bonds, or other assets and could pay off your mortgage to achieve financial independence, it may be worth considering. This mini-class will explore the impact of paying off your owner-occupant mortgage and its effect on achieving financial independence faster than the traditional Nomad™ strategy. We will also examine how this decision could impact your net worth and compare the risks to the traditional Nomad™ strategy.
Check out the video and interactive charts from this class here:
https://RealEstateFinancialPlanner.com/model/nomad-or-pay-off-oo-fi/
Or, see Huntington Beach specific, detailed analysis of a variety of strategies here:
https://RealEstateFinancialPlanner.com/model/CA/Huntington_Beach/
Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Huntington Beach real estate investor podcast? Book a free consultation to discuss.
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