Posted by Jimbob on November 16, 1998 at 11:00:25:
Babesy,
This advice is dangerous, you could lose everything unless you are mortgaged to the hilt on one or more income producing properties that will pay for it’s self and have a positive cash flow, or you mortgage one of your properties to purchase another property way below market value with the intention of reselling it for a big profit. If you are being advised to mortgage properties to the hilt for tax benefits, this is very bad advice. Be careful in this area, make sure all the numbers pencil out well.
Jimbob