Do you own your home? Do you wish you did?

This is the reason I never sold my rancher . I would be happy living back down there with a shop nestled back into the climate controlled basement . With the money saved in expenses each year , I would be living the king's life . :)
 
pdentrem said:
People I know are remortgaging their paid for house and investing in dividend paying stocks which will cover the payments and more, plus capital growth over the long term. Wish I had done this 20 years ago.
Pierre
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My Opinion:
I would not do that. I don't believe in losing your home for an investment.
I would keep the house paid off, and if you want to invest, take extra money and invest. Things are such a mess right now, I believe we are headed for a major fall again. Stocks are not matching what is happening out there. It's ok to be out there in my opinion with extra money, but not the house... Don't bet the house on it.

Our govt doesn't believe in paying their bills, but I do. I owe nothing.. I guess I am old fashioned. I've never run up a credit card, if I couldn't pay it off this month, I didn't buy it. I know that's not how everyone does it, it's how I do it.

I've known people who don't work, who have way more than I do. One lived on SS after he lost his leg while drunk driving... he owned every new items (new cell phone..latest and greatest), new TV when plasma came out, he got the biggest... I didn't understand it.. Then I found out he hadn't paid taxes in years and they were coming after him..

I can sleep at night (well I wish I could.) (figuratively).
 
My liquid assets are 3 cases of Modelo, and 1/2 gal. of George Dickel. All kidding aside, we own 5 homes outright, and realestate has accounted for most of are wealth gain. We do have investments in the market, and retirement accounts, but I've always preferred things I can see and touch. We are in the process of selling off several properties just so I don't have to deal with them anymore, and will have to decide where to put the money, but there are worse problems to have. Always keep enough cash on hand for 2 years of regular expenses. For me debt was always something to be avoided, unless it was for business growth in good economic times. Mike
 
My motto ..........................................always leave yourself an easy " out " . :encourage:
 
How would you like to move into your new rented shop/house and the next lease the rent goes up 40%. Not a lot of fun moving a machine shop of tools. That's why OX tool moved.
 
You really need to understand the economic cycle. People who mortgaged the house and invested in 2009 did very well, those who did it in 1999 went broke. We are 11+ years into an up cycle that typically lasts 7 years due to the additional printed money by the Fed. Be careful with assumptions. Rich people got rich by using debt to finance income producing or appreciating assets, not by acquiring personal use assets that cost money to operate. Also keep in mind that more than half ( 70-80% ) of those who invest underperform the market. Saving habits account for more wealth than investment choices. Dave
 
FOMOGO said:
My liquid assets are 3 cases of Modelo, and 1/2 gal. of George Dickel.
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FOMOGO said:
We are in the process of selling off several properties just so I don't have to deal with them anymore, and will have to decide where to put the money,
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Mike , if it were me ....................................I would re-invest in your liquid asset funds . ;)
 
We own two homes (actually the bank owns part of them but not so much we couldn't pay them off tomorrow if we wanted)

The thing I always come back to is you can't live in a mutual fund and you can't rent out your 401K

John
 
woodchucker said:
My Opinion:
I would not do that. I don't believe in losing your home for an investment.
I would keep the house paid off, and if you want to invest, take extra money and invest. Things are such a mess right now, I believe we are headed for a major fall again. Stocks are not matching what is happening out there. It's ok to be out there in my opinion with extra money, but not the house... Don't bet the house on it.
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You know, the more I ponder this, the prudent thing to do is sit out this next stock market adjustment and wait for the housing market to settle then make a decision.
It's hard to throttle back when we have properties coming via email almost daily that look promising.
I think if the perfect house came up we would still go see it.

The video was very interesting.
We've all seen small investments left alone balloon over time.
Having money in the bank and a solid investment portfolio that is very diversified to weather any hick-ups does make one feel safe.
 
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