Join Date: Jun 2004
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How can we figure out what is the better long-term investment? Real estate... or cash?
I guess we have to figure out what we think our home would be worth in 15 years?
That's what I was thinking. I don't claim to be any type of expert, but if you refinanced w/o taking the equity, then you likely could reduce your payment a good bit and still get the $1600 a month rent from the business.
Our philosophy on real estate is buy, never sell. We won't sell our home when we move. We'll rent it or do something else with it. OTOH, I don't intend to use it in any way when we're retired. It's intended to provide us with a potential for income well into retirement years and eventually to leave to our children. I suppose for you, part of the "best thing" depends on what your other plans are going forward.
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