OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

To piggy back off this. My mom took a chance on a house in NYC. She used home equity loans to keep buying houses. Now she’s a multi millionaire with multiple multi family homes in NYC. She maybe cash poor but if and when she decides to liquidate she will literally turn 30k of initial down payment into multiple millions. All as a immigrant single mom.

Debt is how the rich get richer but too many people don’t understand that.
Most people's understanding of debt is buying some trendy material item with a credit card and not being able to pay it off :lol:
 
To piggy back off this. My mom took a chance on a house in NYC. She used home equity loans to keep buying houses. Now she’s a multi millionaire with multiple multi family homes in NYC. She maybe cash poor but if and when she decides to liquidate she will literally turn 30k of initial down payment into multiple millions. All as a immigrant single mom.

Debt is how the rich get richer but too many people don’t understand that.

what money did she use to fix them up?
 
Ah ok, smart lady

Would love to talk to you or her, trying to grt my feet wet in this real estate ish here but nyc is too dam high

Check out Mott Haven in the Bronx. The hood, but I’m seeing a bunch of duplex reconstructed over there. Super close to the city. If you have money, Astoria has some buildings with 8-12 units.
 
Check out Mott Haven in the Bronx. The hood, but I’m seeing a bunch of duplex reconstructed over there. Super close to the city. If you have money, Astoria has some buildings with 8-12 units.

I dont got 8-12 unit money brother lol

At the most 3 family
 
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Whats yall 2022 game plan? Anything different with your approach? I’m gonna go with 75% VTI and 25% energy gamble plays.
 
Nope. More of the same. The only thing I'm thinking about is maybe starting to buy some company stock but idk how I feel about it yet. I'm getting it at cost, no discount.
 
2022 for me will be mostly more of the same. but will be doing more wheel strategy and long call plays as well to stack passive income
 
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