Quote:
Originally Posted by RFlush
|
Good read. Can't say I've ever been bothered to touch real estate.
My friend bought a Duplex for $500k. It wasn't even perfect. The basement was far from it. He must have invested another $70k just in repairs and landscape. I asked him why did he buy now and he just responded with 'I don't want to rent'.
Then he lost his job....
And now he and his fiance struggle. To top it off. his tenants are moving out. So now they have a giant mortgage with no tenant to help leverage the payments.
As for myself:
Looks like I have a lot of reading to do if I want to establish some direction. I don't revolve around money but still need to be smart about the choices I make. Kind of feels like I'm throwing money in the washing machine and hoping it doesn't wash out.