1 million dollar house....and clear.......did you buy cash?where the cash come from.....inherited....won lottery...or Hedge Funder......
Yes if you have 1 million cash.......you can do a lot with cash..........it depends your age and circumstances....yoy buy 3 flats with $100,000.00 each with mortgage...........it is little money.if yoou consideer the rent coming in and other gearing........
You also consider....the age of the flats.........if these are 100 years of age.....council buldozers come and plough the flats .....flat........pay you little compensation.......rate hikes etc. etc....
then headache.......bad tenants........this and that is broken in the flats........complaints ......realestate ring off and on to repair the damage to the flats, leaking pipes etc.etc........
1,000,000.00 in fixed deposit.....freedom, freedom, freedom
Just two enemies in this world,,,,Tax office and Red lights on the road...........
I bought my own hoouse for $110.000...9 years ago...Sold for 850.000.00 to a developer......he got DA to build 4 storey +showrooms.......alongwith other 3 properties.......
In the meanwhile market fell down.........Developer......actually he was opportunist....get DA and sell DA to a Developer......This time he got struck and with him I struck....he still have DA for another 3 years........no chance market improves in 3 years and pays me.......
If .....deal done.........I never have bought the house again......Term Deposit......and Freedom....Freedom....Freedom......
