Hi All,
Great articles here. I've been a fan of a modest living for some time. I've founded my investing on guru's such as Dave Ramsey, and Mr Money Mustache, the oxford club Both teach the principles of living within your means. I've been a fan of investing and have bought several books including, “who moved my cheese”, “Rich dad Poor dad" "The Gone fishing Portfolio" and have applied many of those principles. I'm torn with a recent division about investing. I've recently come into some money after a parent passing away. I have a good retirement saving and was planning to buy a house. I've heard nay Sayers say don't buy a house for tax purposes, that makes no sense to me why would I owe money to wright just a little off on my taxes? Recently a friend of mine approached me with the idea of putting 20% down on 4-5 homes and Renting them. He says that would create a revenue stream for me. It seems risky. Or putting a little down on a home and buying some commercial Realestate. Or buying a really big home and taking out a small loan because it will go up in value... What's the right decision here, ultimately I don't want to squander this money its the only thing I have left from my parent, and Biblically it says in Proverbs " the borrower is slave to the lender.." What's the right choice here.
Thanks,
Dave