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126coupe 126coupe is offline
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Join Date: Dec 2002
Location: Coto de Caza, CA
Posts: 3,725
Here is an example of good debt:
I have commercial income property, tenant is there for 10 years, paying me, my loan, and expenses. Lease expires, I renew for another 10 years, they renew or I get a new tenant. Said loan has been paid down considerably. The real estate has risen in value, I re-finance, raise the rent, take out a chunk of cash, tax free (legally) and reinvest the cash, or if I had the "Ed" brain I would piss the money on stuff and/or a bigger house.
The key is the $$$ I take out is tax free.
1967 911R "Clone" Race Car 2.0 & 2.5 Twin Plug
1984 Mercedes 500 SEC
1991 Mercedes 420 SEL
1992 Ford F-350 Dually
28' Pace Trailer
Old 06-09-2008, 03:30 PM
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