Josh # 2 Asks:
Hey, my name is Josh and I am 24 years old and I am a huge personal finance junkie. I really enjoy reading your site so far. I was particularly intrigued about your post about renting vs buying real estate. To make a long story short, my dad owns commercial/rental property (3 housing units, bottom floor is for business) that is mortgage free. It is in a great up and coming neighborhood in Brooklyn. If he were to sell it today it would fetch in the 2 million dollar range. He makes pretax annual income of about $100,000+ in residual income from the business and the 3 housing units. I have been for the past couple of years been trying to convince him to take a loan from the equity from his property and reinvest in other commercial properties or other properties, but he refuses claiming that it is too risky. I don’t how else I can try and sell him on this. Maybe you can help? I am just trying to help my dad become more cash rich, instead of cash poor, asset rich?
Join AJC as answers this question – and, more – as he shows how he went from ($30k) in debt to over $7 million in the bank in just 7 years … no scams, no schemes … just good-old-fashioned free advice … LIVE THURSDAY @ 8pm CST (6pm PST / 9pm EST)!
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Great webcast tonight Adrian, I really enjoyed it!
@ Docsd – Thanks, Doc! Hopefully, production quality will improve as we get some experience with the new format.
I loved it too!
Really great stuff!
she has to surround herself with motivated people