Reply to When million-dollar-plus homes are purchased, do people put more than 20% down?

Forum Index » Real Estate

Reply to "When million-dollar-plus homes are purchased, do people put more than 20% down?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

I know my financial advisors qualifications and billable hours, maybe you do not.

High end financial advisors work differently than not so high end, which is what I suspect you are doing.

Old money knows how to manage their money, that is why it is called old money.  But that term is "fighting' words" here; and I trust NOT how you make your money, PP who claims to be a "financial advisor".

But alas, I suspect you "know everything".  Snicker.

[/quote]

I'm the PP ... our average account is north of $100mm.  You're probably right that we're not really talking about the same leagues.  I'm sure your guy telling you to plow cash into a minimal real return asset has got it all worked out though.[/quote]

I highly doubt that.  And I don't even know what you are talking about there.

I'm quite wealthy myself.  Anyways, people with 9 digit NW don't buy an itty-bitty house all-cash and live in it unless they are 80 y.o. and have done so for decades or have mental/social problems.  The normal ones buy $20 million-plus homes and...yup...get a mortgage most of the time.  Because it's always better to use OPM.

Why are you pissing around with 1.5 with that supposed net worth? Snicker right back you.[/quote]

Not exactly sure to whom you're responding (I think you're confusing my posts with the $1.5m "old money") ... I'm the one with clients whose accounts average >$100mm (at a global firm)... alas, I am not one of them and not even close.  But you are completely right that people of true means often (likely more often than not) get a mortgage on their homes "Because it's always better to use OPM." - exactly right.  And in my experience, even those with more $ than they'll ever need are still interested in making more ... ie, borrow cheap, invest at a higher rate, rinse, repeat.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics