Quote:
Originally Posted by OneHungLo
Tommy's scenario never happens because like I explained - rental properties are based off income and not necessarily property value. Barring nuclear devastation, renters aren't going anywhere and when was the last time your landlord lowered your rent?
But yeah, real estate is the way to go. The best part about that scenario is on that 2 million in equity, a big fat zero has been paid in taxes. You literally can perpetually forgo the taxes, even if you sell it you can move all the income into a bigger piece of property through a 1031 exchange and literally never pay taxes. Why do you think Trump doesn't want to show his tax returns? He hasn't paid a dime on BILLIONS of real estate he owns. Fucking BILLIONS evaded..and the beautiful part is...it's all legal! lol
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rental objects are paid from people who rent them and can pay them.
where would you be if you bought, letīs say 2000 objects in detroit ?
did you not learn from your real estate crisis ?
i mean it is up to you when you can sleep with debts - i can not.
and I own quite a lot of real estate. when i was young i did in ONCE and got a loan on
a house what i lost later in exactly such unforeseen circumstances.
since than i never asked a bank anymore for anything and i will never do it.
there are so much better ways to let money work without a gun from a banker on my head.
but as i say - it is your choice and you should do with your money and your life what you want. it is just not my way what can be because i am a few years older than you and i have already all what i ever wanted in my life.