"JimH" wrote in message
...
wrote in message
oups.com...
P. Fritz wrote:
What other investment can be made (as an individual) for as little as
0%
down, that is historically an appreciating asset, where the cost of
financing (as well as taxes on it) are deductible?
Chuck is sounding jealous, like a typical liebral.
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Your primary residence is *not* an investment.
Sure it is. Real estate is a common investment, including your primary
residence.
Many commercial level
financial statements won't even allow you to list the equity in a
primary residence.
Commercial level...perhaps as I never applied for a commercial loan.
That
is not to say, however that you are right.
Notice he said 'many' not all. I'm involved in a commerical deal where
they looked at all of the partners assests, including everyone's primary
residence.
On the residential level....bull****...they always will. Real estate is
always considered part of your net worth.
It isn't an investment because you cannot choose to
do something else with the money without giving up your essential
shelter.
Sure you can. You can take the profits and move to a lesser priced
dwelling. If the equity in the property you are selling is great enough
then you can pay for the new property with cash. Nothing better than
that,
eh Chuck?
Your additional properties *are* investments, and often rather good
ones. But your domicile is not an investment, no matter how much the
folks who have never saved a dime or created a passive income stream
wish that it were so.
BS. You obviously have no knowledge of real estate and investments.
Maybe he lives in a mobile home too. :-)
The homestead is a very important investment to high liabilty professions
like doctors, since it is the one asset that cannot be taken in a
brankruptcy........Florida being a primary example. Anybody who thinks
that your primary residence cannot be an investment is just a fool.
In my younger days I doubled my net worth a couple of different times with
my investment in my primary residence.
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