Patient, I still disagree.
Even in Florida I wouldn’t want a home paid off. Whether they can take it or not.
You can protect assets with LLC’s and other ways.
If you had $500K in cash 5 years ago, which would have put you in a better position ? …
Buying ONE $500K home for cash, or buying (4) $500K homes with $125K down on each, assuming that they cash flowed break even ??
You would have either ended up with $1 million or $4 million today with the same original investment.
Of course there is a time and place, but I’m sure anybody can understand the point.
Leverage can magnify losses as well as gains, but all markets aren’t as frothy as SD was, and investing is still a risk, but the depreciation write off on 3 rentals is an added benefit against paying income taxes.
