Quote:
Originally Posted by Biggd
A secondary home is usually a poor financial investment but your primary home, depending on what part of the country you live in, is usually a great investment as is most rental property.
You have to live somewhere so if you rent you have to deduct that from what ever your costs are from owning. I wouldn't have what I have today without my real estate investments.
I have 3 children , 48, 37, and 33. The two youngest have had multiple homes and made money selling all of them when they moved up. They both have over 1 million dollars in net worth. My oldest who is a RN and has always had a great income but has rented all her life has a negative net worth. We tried to convince her to buy many, many years ago and now she's priced out of the market unless we help.
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Your points are well made.
The difference from Maxum is that one of his points is that "holding" a real estate investment is not advantageous.
Otherwise, your two youngest have followed Maxum's idea- and obviously done very well!!!