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Reply to "Should I Pay Off My Investment Property?"
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[quote=Anonymous][quote=Anonymous]If you have enough money to pay off the mortgage, don't you also have enough money to refinance into a 10 or 15 year loan? You should be able to get the interest rate comfortably below 4%. Having a fully paid-off investment property doesn't make a ton of sense since it minimizes your leverage.[/quote] What is the importance of leverage (real question - not being snarky)? How does cash on hand, if it is not needed, outweigh spending more by paying unnecessary interest? [/quote]
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