Debt can be bad, but it doesn’t have to be. This is the kind of debt you should have.
Summer is here and hopefully you’re getting out and enjoying it. Because so many people take advantage of their summer vacation, it’s typical that we see a summer slowdown in our market. However, I expect us to see a pickup right after Labor Day, but each area of the market is different for buyers and sellers. Reach out to me today to learn more about what’s going on in yours.
Now, onto today’s topic. I was reading an article in The Wall Street Journal the other day about debt and how it’s taking such a toll on people in our country. People are spending a huge percentage of their income on things like car payments.
“If you have the cash for a car, don’t buy a car.”
I did this once back in the day. In high school, I ran a landscaping business. As my career took off and I became more successful, I was able to buy my dream car, the Porsche 911. I drove it for a month and realized I made a mistake.
You see, happiness for me doesn’t have to do with things. It has to do with people. Because of that, I sold the Porsche to a friend of mine.
The debt you want is not car debt. Car debt is generally considered bad. However, here’s how you can get a free car.
If you have the cash for a car, don’t buy a car. Buy a multi-family home instead. That home is going to have positive tax benefits, give you cash flow, and appreciate as you pay the debt down. In the end, you’ll have enough cash to get a car.
If this is a strategy you’re interested in, I can certainly help you find a solution and make sure you get your “free” car through real estate.
If you have any questions for me in the meantime or want my help in any way, give me a call or send me an email. I look forward to hearing from you soon.
