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One of my superiors has like 1.5 million in debt (im gonna air quotes that)
But the debt is the cumulative mortgage of all his houses throughout the west coast (washington and california)
He says the taxes arent really an issue in comparison to the income gathered from the 6 houses. His best story is buying a short sale house in washington and turning around and selling it 2 years later at a 30k profit (actual was like 22 after everything)
that said I got a bad feeling in my knee that the economy is gonna rupture something like 08 again.
Ive been talking to my dad about buying a few properties in new areas in Tennessee. 220k for a 3 bedroom place and garage in a good neighborhood.
I figure buying places in California, you have to go in the mindset that you wont pay it off and pray to whatever gods you believe in that the value will be higher than what you owe come time to sell
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05-02-2018, 02:03 PM
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