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  • 7 weeks ago

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00:00And a half percent in June, it's equally as important to make sure you do not borrow too
00:04much money. I've said this before, but borrowed money is very much like a fire, where if you use
00:09it properly, it'll keep you warm and cook your food. But if you abuse it, it could very well
00:14burn everything down and destroy all of your finances pretty quickly. That's why I'm not
00:18going to sit here and say, don't borrow money. Borrowing money is bad. You just have to do it
00:23responsibly and make sure you don't borrow too much more than you're able to pay back.
00:28For example, when it comes to myself, I don't have any credit card debt, no auto loans. I just
00:32have mortgage debt on cash flowing rental properties, all fixed for the next 30 years,
00:37under three and a half percent. In those cases, the cash flow more than pays for the rent. And
00:41if for whatever reason I have to sell, there's enough equity to pay off all the loans. On top
00:46of that, those mortgages make up less than 15% of my entire portfolio. So if the market were to crash,
00:52it would really make no difference whatsoever. Honestly, the point where people get in trouble
00:56is just when they borrow too much money on short-term speculation, and they don't have
01:00enough to cover themselves in the event of a prolonged downturn. No sure, even though borrowing
01:04debt in trouble. I don't have enough money on short-term speculation, in most cases,
01:10I don't want to pay for them. So let's just talk to me about this. So if I actually
01:14have a gag of a gag of the pornography test, I'm going to let them do this. And the answer
01:15I'm going to pay for you. I don't have to admit that I'm going to pay the price for
01:17your 2017. The way you have to pay for the world. And that's something that you
01:19have to do with the cork of the roof of the roof. And that's what I feel.
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