brinkofwarz
brinkofwarz OP t1_iu5szjk wrote
Reply to comment by mikaball in my dad wants to know if he should get a lawyer because he's losing money by brinkofwarz
He used his real estate gains to buy half of two houses to make more money off of them.
brinkofwarz OP t1_iu5ssjm wrote
Reply to comment by UTGay91 in my dad wants to know if he should get a lawyer because he's losing money by brinkofwarz
Real estate is the best investment when it's going up.
And his mortgage is variable.
brinkofwarz OP t1_iu5skhr wrote
Reply to comment by Sullimd in my dad wants to know if he should get a lawyer because he's losing money by brinkofwarz
He got variable, it was lower than fixed so it's better!
brinkofwarz OP t1_iu5sd3z wrote
Reply to comment by 0x11C3P in my dad wants to know if he should get a lawyer because he's losing money by brinkofwarz
Ironically he went bankrupt from also buying a house right before the housing crash in 07-09
brinkofwarz OP t1_iu5s67f wrote
Reply to comment by Thereisnopurpose12 in my dad wants to know if he should get a lawyer because he's losing money by brinkofwarz
Oh I don't think for a second a lawyer is going to do anything, I'm trying to tell him hes dropped the soap and he's in denial.
Submitted by brinkofwarz t3_yfmrwi in wallstreetbets
brinkofwarz OP t1_iu75e25 wrote
Reply to comment by wobes11 in my dad wants to know if he should get a lawyer because he's losing money by brinkofwarz
Oh ya he's certainly doing well and in general housing does go up, I just thought his reaction to it going bad was funny because he always brags about how much he makes off real estate. "Just get a mortgage and you can have lots of money like me duh its so easy!" Says the guy who bought his 900k house for 400k with a down payment of less than most cars probably.