Replies (6)
Really?
It just depends on the timeframe.
If you did it at the bottom you did alright.
If you thought it was the bottom & then it went down further, there's a chance you went full Portmoy.
As long as your conviction is high & you're cash flow positive it worked out well over the long run. Last epoch was balls though.
Some people pull it off, but I know numerous folks who got themselves into bad positions with various types of leverage, mortgages being one of them.
All depends. I know people who have had it work well. I was considering selling mine for BTC at 50k. Had I done that I would have felt really smart for about a year and then (today) realized I paid more in rent than I made in gains.
Having land to work can be really rewarding. I can't really put down roots in a rental.
Got it ๐ซ
*Mortgaging the house without the ability to repay the loan other than the appreciated value of the Bitcoin. has not worked out well historically.
(it's a big plus as well to understand how to minimize the amortization scheduled interest on the loan.)
Absolutely can be. I've never been one for timing ๐