“In buying the condo, you could open a home equity line of credit (HELOC). For example, you could buy a $100,000 condo and get a tax-deductible line of credit for, let’s say, $50,000. It usually costs nothing to open and it is there for just such an emergency. It’s likely to be at a variable rate but the odds are you won’t need it and, in the meantime, you are saving a ton of money by not making that mortgage payment.”

$50K on a $100K condo???? Uh, yeah okay sure. Sorry, but this guy’s advice is as clear as mud. To me it’s simple, if you are in SoCal and you meet with a planner and they advise you to leverage into real estate right now or forseeable future…savings or not…they failed the litmus test already.