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SVTPerformance's Chain of Restaurants
Road Side Pub
Investing to make my money work for me!
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<blockquote data-quote="mc01svt" data-source="post: 14073492" data-attributes="member: 32337"><p>wrong..... </p><p></p><p>That might have been true for a high interest rate or APR mortgage but not at todays rates. For instance my 2bdroom apt (1000sq ft) was going up to $930/mo. I bought a house with a mortgage at only 4.75%. The prinicpal and interest payment is only $850/mo. At the end of the next year i got $5,000 back in federal taxes since i was now able to take itemized deductions. Also since my apt had no garage i was spending an additional $85 per month for a storage unit. </p><p></p><p>2400sq ft house + 2 car garage + .45acre lot = $600 (after taxes)</p><p>1100sq ft apt + 10' x 10' storage unit = $1015</p><p></p><p>Why would anyone purposely decrease their total cash flow for less space, less freedom and more taxes just to use the term "debt free?" :nonono:</p></blockquote><p></p>
[QUOTE="mc01svt, post: 14073492, member: 32337"] wrong..... That might have been true for a high interest rate or APR mortgage but not at todays rates. For instance my 2bdroom apt (1000sq ft) was going up to $930/mo. I bought a house with a mortgage at only 4.75%. The prinicpal and interest payment is only $850/mo. At the end of the next year i got $5,000 back in federal taxes since i was now able to take itemized deductions. Also since my apt had no garage i was spending an additional $85 per month for a storage unit. 2400sq ft house + 2 car garage + .45acre lot = $600 (after taxes) 1100sq ft apt + 10' x 10' storage unit = $1015 Why would anyone purposely decrease their total cash flow for less space, less freedom and more taxes just to use the term "debt free?" :nonono: [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Investing to make my money work for me!
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