RE:How to own 20 houses, and only paying for 5What happens when the housing market inevitably goes down and you have issues with any of the houses? You're leaveraged to the teeth at this point, what do you do?
GreenNme wrote: I know this board is for us to discuss Aphria but I wanted to share something I was taught that may be of value to some. If you can save up the capital, to purchase one home every year, for 5 years straight, you can then own 20 houses without putting in another dime. You put down a down payment and buy a house, once a year for 5 years straight. On the 6th year when it's time to renew your first houses mortgage, you refinance and pull out the equity and use that to purchase house #6. Shortly after, refinance house #2 and use that equity to buy house #7. And so forth. The hard part is saving the capital needed to use as down payments for the first 5. But if you can do that, you can get to 20 houses without putting down any more money.