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Jul 31, 2020
6:26:36am
Fdnman All-American
Here is my home buying history as an example...
Borrowed $5,000 from my sister and bought a $75,000 house. Sold it for $125,000 and rolled the $50,000 into a $250,000 house with a $200,000 mortgage. Sold it for $425,000 and rolled that into an $800,000 house with a $550,000 mortgage, which after 10 years I just refinanced with a 2.375% 15 year mortgage. When I retire in 9 years, I will sell it for around $1,000,000 and have less than a $200,000 mortgage and my wife has already told me we are buying our retirement home with cash because she doesn't want a mortgage regardless of how low the rates are.

That is how you take $5,000 of borrowed money and roll it over time into a million dollar home.
This message has been modified
Originally posted on Jul 31, 2020 at 6:26:36am
Message modified by Fdnman on Jul 31, 2020 at 6:35:34am
Fdnman
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Fdnman
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