Originally Posted by
highfarfast
It’s something I’ve thought about. And honestly, it was the original plan all along except my wife didn’t want to finance and I haven’t been able to talk her into it (she is NOT a money person, just knows debt is bad). That said, we are VERY close to being completely debt free for the first time in our adult lives and it’s making me not want to finance anything else either. At the rate we’re going, we can probably have 10 or so rental units when I retire, free of debt, in addition to 401K and IRA savings. And that’s without financing.
But yeah, my original plan was to finance against the rental to purchase more rentals and thought about it enough to have a plan in place to do it. Just haven’t been able to convince the other half.
There is good debt and bad debt. Credit card high interest rate debt is bad debt. Mortgages on good cash flow is good debt. Think about airlines if they did not take a loan to buy their planes. Yes, I know, logic bears no impact on your wife. But worth a shot. Then drop it, let it sink in. See if she wants to bring it up in 6 months.