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Posted on 1/13/15 at 1:17 pm to KingRanch
I have several mortgages but mostly on rental property. I look at it as the cost of doing business. I see no point in paying off the mortgage when I can borrow for less than 5%. If you aren't able to beat 5% investing in real estate I think you should probably find a good financial advisor and stay out of his way.
Posted on 1/13/15 at 1:17 pm to Tiger Ryno
No, mortgage
but then again it's really all about cash flow isn't it?
As long as my cash flow keeps increasing I stay stress free about finance.
(it's nice to have renter's to pay your mortgage)
but then again it's really all about cash flow isn't it?
As long as my cash flow keeps increasing I stay stress free about finance.
(it's nice to have renter's to pay your mortgage)
Posted on 1/13/15 at 1:17 pm to Tiger Ryno
I laugh at the OT and the riches that everyone has.
Posted on 1/13/15 at 1:17 pm to LSUBoo
Yes! Going on 8 years now.
Posted on 1/13/15 at 1:18 pm to Tiger Ryno
no mortgage but I financed a vehicle 6 months ago 
This post was edited on 1/13/15 at 1:21 pm
Posted on 1/13/15 at 1:18 pm to Tiger Ryno
quote:
I don't know why more folks don't take advantage of this loophole
works for big corporations, not so sure it's so advantageous to individuals, could be wrong, that's just what a friend that is a bankruptcy/debt renegotiating attorney told me
Posted on 1/13/15 at 1:18 pm to Tiger Ryno
Paid of the house a few years ago. Rarely use credit cards. Even with the house paid off, you still have insurance and property tax, which equates to hundreds every month.
Posted on 1/13/15 at 1:19 pm to Tiger Ryno
4 more years of student loans
Posted on 1/13/15 at 1:19 pm to LucasP
quote:
Filed for bankruptcy a few times. That's LIKE being debt-free.
This is a giant loophole!! You can start to establish credit after two years after filing a chapter 7. I've known people file chapter 7's every 7 years like clockwork after running up $100K or more worth of debt only to have it wiped clean.
Posted on 1/13/15 at 1:20 pm to TigerFred
quote:
laugh at the OT and the riches that everyone has
easy for you to say sitting up in that big ivory tower in Cinco Rancho Cucumongo!
Posted on 1/13/15 at 1:21 pm to JoePepitone
I owe on my house, but no credit card debt or student loan debt. I have a balance on my truck but company allowance covers that expense. I buy my toys with cash money. I figure if I can't pay for my toys with cash, I don't need them.
Posted on 1/13/15 at 1:21 pm to Tiger Ryno
If you're renting a place to live, I don't think you should consider yourself debt free.
You gotta pay to live somewhere.
You gotta pay to live somewhere.
Posted on 1/13/15 at 1:23 pm to Tiger Ryno
quote:
easy for you to say sitting up in that big ivory tower in Cinco Rancho Cucumongo!
Cinco Ranch is for poor people. He's up in Avalon at Seven Medows.
Posted on 1/13/15 at 1:23 pm to Tiger Ryno
No. I use my CC and pay it off to build credit because having none was biting me in the arse. So I have a couple hundred waiting to be paid this month.
Otherwise, yeah. I rent.. car was bought in cash.. no student loans.
Otherwise, yeah. I rent.. car was bought in cash.. no student loans.
Posted on 1/13/15 at 1:24 pm to REB BEER
quote:
If you're renting a place to live,
you're not doing it right
With rates where they're at, buying is sooooo advantageous.
You're throwing away equity and/or future earnings.
Posted on 1/13/15 at 1:24 pm to Tiger Ryno
no one is completely debt free
Posted on 1/13/15 at 1:24 pm to Breauxsif
quote:
This is a giant loophole!! You can start to establish credit after two years after filing a chapter 7. I've known people file chapter 7's every 7 years like clockwork after running up $100K or more worth of debt only to have it wiped clean.
Yeah, and people like that are called deadbeats.
Posted on 1/13/15 at 1:26 pm to Tiger Ryno
I'll be completely free in 6 months. Then I immediately have a trip that I will put partially on credit card and pay off super quick.
Posted on 1/13/15 at 1:27 pm to Salmon
quote:Yep. Everyone still owes society for the felonies they have committed.
no one is completely debt free
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