House Question?

Question

I'm a young business man who doesn't have a lot of experience in the real estate area, my question is... what is the best move after paying my house in full?

Should i quickly buy another home, etc?

Answer 1

If you still have a lot of money after paying off your mortgage, it's good to invest in a rental property.  Especially you're doing business and may be in the high tax paying bracket.  A rental property could be a good tax shelter. Make sure you see an attorney to set up well with your business and rental in case a lawsuit happen, you won't lose everything.

The landlords are the most group of people being sued in the world.

Answer 2

If your happy where you are, just save the money..

If you have extra cash you are looking to use in real estate as an investment, this "MAY" be a good buying-season as selling prices seem to be down as a whole..

Depending on your situation, you might should talk with a tax adviser.