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not as smart as I think
Join Date: Oct 2006
Location: Northern California
Posts: 769
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For me, the main point would be to make sure you were financially comfortable. Getting a HELOC or something similar would run you perhaps $600.00 per month for a $100K loan. Are you comfortable with that?
Recently (within the past 3 months) I have put a roof on my house, redone two bathrooms, landscaped the backyard, painted the exterior of the house and put in a new kitchen.
These were things I wanted done and while my financial situation is not where it was 5 years ago, the cost of doing these items made it worthwhile to me and my wife. Our finances were such that when all was said and done, we put about $15K on the HELOC and the rest of it we paid for out of pocket. We could have paid for it all out of pocket, but borrowing money these days is still cheap and the market is somewhat ugly so I wanted to give that money a chance to come back.
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1978 911SC stock-SOLD
1985 911 Carrera Stock
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