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Reply to "Looking to blow $150k on a second property (condo)"
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[quote=Anonymous]I'd get it if: 1. Your retirement plans (IRA+401k) are well funded (I'd ballpark that at $500k for you right now) 2. You are on track with saving for kids' colleges (about $100k in the bank now) 3. your non-retirement investments (non-real estate) are about $300k 4. once you buy the property real estate doesn't account for more than 35% of your portfolio 5. you can comfortably make all payments - fees, utilities, insurance, AND make generous contributions to savings and retirement. [/quote]
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