11-11-2020, 10:34 AM
(11-11-2020, 10:25 AM)Deceus Wrote:(11-11-2020, 10:12 AM).RJ Wrote: Caveat - yes to a point, but, buy something you can hold and rent if you decide you dont want to be tethered to it. I wish I'd done more to build wealth/savings earlier but racecars motorbikes no ragrets dot gif.
So much this. It was VERY painfully letting the old place go knowing the income potential there. Not only did I lose out on the chance to make a ton of money, it would have been really great to keep a little retreat to visit whenever we wanted for races, friends and whatnot. Had I had $70k-80k on hand I could have easily kept it but I wasn't even close. Painful lesson to learn but learned well. If I want to be truly well-off and secure I have to stop fucking around so much.
Also, Taylor - what is your motivation here? If its to build wealth/income then you can also buy smaller houses just to rent. Being a landlord is another job in itself, but, its an option - dont you have family further south in the state? You could probably buy 5 rentals there for the cost of 1 here.