Anonymous wrote:Yeah, our friends let it "slip" that they were paying $350K for the home renovation/addition they were building on their $1M home.
I expect they didn't let it slip -- you pressed them with so many questions they finally just came out and told you.
I have a friend who got made at me when she learned we had paid off our mortgage on a rental property. The look on her face was close to fury. I think it's because she had just bought a condo for more than she should have paid and she's worried about that. I only told her because she kept asking so many questions about why we don't sell the house, isn't it costly to maintain, what if we go a month or two without a tenant... Finally I just said "We have wiggle room since we paid off the mortgage."