Lots of equity and about to finish paying our mortgage.

My wife (39) and I (36) have been laser focused on paying off our mortgage and haven’t put much thought into our goals financially past it, mortgage has 64k left on 950k house. We thought after we pay it off we’ll just go hard on investing with our excess cash post mortgage but with property prices dropping in the market correction of 2024 it got us thinking:

“hey, maybe investment property is something to look at instead of investing….hey you have tonnes of equity, why not both?’’

What are your thoughts as people that are smarter than me. Good idea? Bad idea?