[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 23 KB, 420x420, 1494621470902.png [View same] [iqdb] [saucenao] [google]
14989137 No.14989137 [Reply] [Original]

The home that I bought 2 years ago is now appraising for 40k more than I owe!!!
I want to get a second mortgage and buy 4 more bitcoins.
I think the housing market is in a bubble, and I could easily make the payments even if my home loses 70k in value, and I think bitcoin is about to take off.
If history repeats itself this is a very good gamble!
I should do this right?

>> No.14989158

no

>> No.14989164

40k of an iniatial 40k investment is alot, 40k of 400k is a different thing

>> No.14989177

and so it begins

>> No.14989184
File: 208 KB, 370x369, 1552968083377.png [View same] [iqdb] [saucenao] [google]
14989184

>>14989137
tfw bought my condo for 375k 2 years ago and it's still worth 375k

>> No.14989244

>>14989184
you forgot about the 2 years of maintenance and property tax fees

>> No.14989246
File: 19 KB, 480x360, CZwithfriends.jpg [View same] [iqdb] [saucenao] [google]
14989246

>>14989137
I know people are going to tell you no, but this is the true way to wealth.
Look into tax advantages of a second mortgage (if there are any) any go for it.
Compound your way up and use your debt to your advantage...good luck!

>> No.14989263

>>14989244
He also forgot currency inflation. Poor cuck.

>> No.14989400
File: 68 KB, 683x683, 1562113995258.jpg [View same] [iqdb] [saucenao] [google]
14989400

>>14989244
>>14989184

>> No.14989434

>>14989263
>>14989244

I would sell if I could but the market is not even moving right now. Plus when you factor in HOA fees, maintenance costs, taxes, real estate fees, etc, I would be way down anyway. Buying was not a good move.