We have young children ourselves and are very aware of how fast time flies with kids. We try and spend as much time with them as possible. Many of our clients who are young parents like us, talk to us about wishing they could be at home more with their kids. We have found that if they could eliminate their biggest debt, their home, they could at the bare minimum, work a part-time job instead of a grueling full-time job.
We have heard about the struggle from some of our senior clients about being able to retire comfortably and not having to worry about bills as much. Some would retire earlier if their house was paid off. Others who have already retired would be able to travel and mark more things off their bucket list.Paying off a home can bring in that extra money each month that allows for more opportunity to enjoy retirement and not worry so much about paying bills each month.
One of the struggles with real estate investors is cash flow. Cash is king in that business. By using a HELOC to buy properties they can pay them off much faster and build wealth much, much quicker.