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Reply to "Million Dollar Mortgages"
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[quote=Anonymous]We have a 1.7M mortgage on our primary residence. It is at 2.75%. When rates were low, we moved over the balances from a few rental properties and consolidated them into one mortgage with a low rate. So, our house is worth about 3.5M, our rental properties are worth 2.5M combined, and they bring in 12,000 a month in rent, which fully pays for the mortgage, taxes, and insurance on all the houses. We like using debt to our advantage since we essentially live in a 3.5M dollar house for free. On paper you would see only the amount of our mortgage and not the rest of our finances. [/quote]
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