Quote:
Originally Posted by Wayne at Pelican Parts
If you're really crazy, you can justify it by saying that you are "diversifying your portfolio" against market forces, etc. I've used that argument on myself before...
-Wayne
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"diversifying your portfolio" - I like it!
Chris - I hear you loud and clear. That is definitely one of my concerns.
My price would be about $5-10K below what I feel is the high end market value for it today. So if I had to sell it, I'm fairly confident I could get all or at least most of it back even in a quick sell. The goal would be to never sell and pass it on to my son one day (he's now all of 14 months).
If I bought it using the HELOC, and considering the recent decline in housing prices around here, I would still be at about 70% loan to value on the house when combining the 1st with the HELOC.