Mindy and I just sold our old home. It had been a rental, but the numbers didn't work well. We earned less than $3,000/month on a $600,000 home. We weren't close to the 1% Rule. Hell, we weren't even at the .5% rule. If we had pursued our original plan to put the home on Airbnb, the numbers would have worked much better. But then, we're trading time for money. I need time much … [Read more...] about Home Sale: Mortgage Post-Mortem
Back in September, Mindy and I bought another home to live-in flip. Getting a good deal meant that we'd have to pay cash and close quickly. Here was our plan to come up with $350,000+ and what we'd do after:September 2019: Sell $100,000 in stocks, borrow $200,000 from our HELOC, sell the Acura NSX ($45,000) and use cash savings to fund the home purchase.January 2020: … [Read more...] about A New Mortgage With A Side Of Lucky Market Timing
I bought my last home in 2013. I could have paid cash for it, but instead, took out a mortgage and invested the rest. Today, I tell you how it's worked out.Getting Rich With A MortgageOne of the great debates in the FIRE space is whether you should pay off your mortgage. By not paying off mine, I'm in the minority:Most would say that they like the peace of mind … [Read more...] about Getting Rich With A Mortgage
I had a recent email exchange with a reader about mortgages. Thanks Khunara for inspiring today's question!I'm always yapping how I'll never, ever, ever, EVER pay off my mortgage. I even wrote about it here. I'm having second thoughts though. Here are the details of my mortgage situation:My home is worth about $400,000*. I owe about $110,000 on the loan, so I … [Read more...] about Ask the Readers: Should I pay off my Mortgage?
I'll be the first one to tell you that debt is evil and bad. It will:keep you awake at night with worry possibly hurt your credit score encourage you to call your ex-girlfriend/boyfriend after drinking one too many hit on your husband or wife when you have your back turnedAll of that is true, but there is one form of debt that I tolerate, mortgage debt. … [Read more...] about Hey you Mr. Debt, stop looking at my Wife’s Butt!