DG
2016-10-28 11:28:41
- #1
Question: would I do it again? Never in my life!!!!!!!!!!!!! I should have invested the money in a stock portfolio instead.
Great that you had the courage back then to go through with it all. And despite the hassle and time involved, it seems to have ultimately paid off financially for you [...]
What didn’t you understand again? states clearly that it was not financially worthwhile. You twist that 180 degrees and find it a financially rewarding investment.
Nothing there is worthwhile, quite the opposite: she has paid a lot of tuition fees.
What’s the reason? Is it simply a reading/comprehension difficulty or is the idea that a property always yields profit ultimately tattooed irrevocably in your head?
I have since changed my plan a bit.
Good – now just one last step is missing. Say goodbye once and for all to the (short-term) idea that you will acquire rental property. Individual renting out also involves risks in multi-family houses/HOAs that you simply disregard for the above reasons.
Build your house, wait 10 years, keep observing the market and continue educating yourself. If your tax advisor then tells you in 10 years that purchasing a multi-family house (at least 6 units) is worthwhile for you, then reconsider it and find a proper expert to assess the properties in question.
At present, you really should be advised against it in every respect and in the best sense.
Best regards Dirk Grafe