If you're handy, renting is almost always the less ideal option, particularly in inflationary times like these. I can do plumbing and electrical and flooring and general construction (normal male skills), so that drastically reduces cost of ownership. I recently took out a $550K mortgage for a house in TN, kept original $450K house in CA. Using a $500K (3% interest) SBA loan to invest in capital equipment and grow business. Mortgage for each house is $34K/year, but value of each home is appreciating $60K/year, and also have the novel value of providing shelter and studio space for my business. All this may sound indulgent, but this is my first year of investing...spent the last 10 building my business, skipping vacations, putting money back into my work, to the point where now my monthly revenue covers the year's mortgage...so having essentially 3 mortgages really isn't that crazy...especially when it's a good time to have debt. I had plenty of money in savings and could've paid down the mortgages, but instead I just put it all into computer coins, figuring BTC/ETH growth would outpace my 3% interest rates. I don't need 10x returns. I don't do all the fancy stuff y'all smarter folks do...I just need to do better than -4.5%. BTB is very much right about income being king...I didn't realize it when I was doing it, but building my business was the right move. If you can cover a mortgage with just 1 or 2 months' income, for sure wanna consider buying property in a free state before the normies snatch up all of it. No GPU on earth can mint new land.
Wondering same, already live in one of these states thinking I should lever up and get some more property
If you're handy, renting is almost always the less ideal option, particularly in inflationary times like these. I can do plumbing and electrical and flooring and general construction (normal male skills), so that drastically reduces cost of ownership. I recently took out a $550K mortgage for a house in TN, kept original $450K house in CA. Using a $500K (3% interest) SBA loan to invest in capital equipment and grow business. Mortgage for each house is $34K/year, but value of each home is appreciating $60K/year, and also have the novel value of providing shelter and studio space for my business. All this may sound indulgent, but this is my first year of investing...spent the last 10 building my business, skipping vacations, putting money back into my work, to the point where now my monthly revenue covers the year's mortgage...so having essentially 3 mortgages really isn't that crazy...especially when it's a good time to have debt. I had plenty of money in savings and could've paid down the mortgages, but instead I just put it all into computer coins, figuring BTC/ETH growth would outpace my 3% interest rates. I don't need 10x returns. I don't do all the fancy stuff y'all smarter folks do...I just need to do better than -4.5%. BTB is very much right about income being king...I didn't realize it when I was doing it, but building my business was the right move. If you can cover a mortgage with just 1 or 2 months' income, for sure wanna consider buying property in a free state before the normies snatch up all of it. No GPU on earth can mint new land.