Thread: Money Investing megathread extravaganza
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Old 05-28-2020, 10:08 PM   #5046
Hog's Gone Fishin Hog's Gone Fishin is online now
Fish are scared of me
 
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Join Date: Nov 2001
Casino cash: $1730477
Quote:
Originally Posted by Buehler445 View Post
Man Hog you know different people than I do.

When we sold our last house a couple wanted me to finance it. They’d just take over payments. I told them it didn’t really work that way. Insurance was dependent on me (as insured) using it as a primary residence My mortgage was dependent on it being my primary residence and a bunch of other miscellaneous stuff that I would be risking for no gain other than being out from under it.

I did some rough math and it would have been a decent percentage higher payments if I had to finance it.

If i owned it outright it would work great. But where I owed money and needed the cash flow, I was taking a healthy risk.

Real Estate takes real capital man.

But once you have it you can use it to make more money. Just like farmland the toughest one to pay for is the first one.
Real estate doesn't take capital. It takes leverage. Borrowing money has never scared me as long as I knew a way to pay it off..
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