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Reply to "How Rich is Rich? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You live in a 2 million dollar house and are asking this? Yes you are rich.[/quote] [b]You can't leverage it unless you take a HELOC[/b] and invest the money so well you get positive cash flow after making loan payments, e.g. beat interest rate well enough. A house you live in is not an income property. In HCOLA your housing will be $$$ if you don't want to live in a complete dump, hers isn't extravagant anything for the area. Can she downsize and live in a 2 bedr condo? Yes, but not until kids are on their own. Again, it's a nest egg that cannot be cashed out just like 401K until some time in the future without huge penalty. [/quote] That's actually all you need to leverage it (Getting a heloc). And I don't know why you're talking about investing the funds from heloc to get a return above interest. Are you forgetting that your house is an appreciating asset?[/quote]
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