Mortgage debt is considered 'good debt' because it provides leverage that allows property owners to benefit from property value appreciation and rental income, making it more financially advantageous to reinvest mortgage payments into additional income-generating properties rather than paying off the mortgage early.
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DON’T PAY OFF YOUR MORTGAGE EARLY 🚫Hinzugefügt:
Dad, should I pay off my mortgage early?
I wouldn't do that. Let me explain why.
When you borrow money to buy a house, we call that leverage. So, the bank is effectively giving you the money that allows the property to go up in value, and it pays you every single month. So, rather than lose that leverage, if you've got the money to pay it off, instead use that money to buy another house that's also going to go up in value, and also going to pay you money.
And then you can do it again. Oh, because a mortgage is good debt.
>> Exactly. It's debt that puts money in your pocket. So, see that? People want to learn the best ways to buy property, what should they do?
>> Follow my dad.
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