tag:blogger.com,1999:blog-6988275145038032119.post1044959860819033982..comments2024-01-29T07:21:04.620-07:00Comments on Faithful Homemaking: Living Debt Free--Part 4Unknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6988275145038032119.post-80536052488172085072008-06-17T16:41:00.000-06:002008-06-17T16:41:00.000-06:00God has really blessed us in the area of housing. ...God has really blessed us in the area of housing. My husband has great knowledge in the real estate industry, plus he's a fixer-upper. So we have had luck with "flipping" houses (buying low, fixing up, reselling for more, making a profit) and also with rental properties. You really have to want to invest the time in doing rentals, because it is a lot of work. You have to find quality renters, make sure they pay rent on time, take care of the place, go unplug the toilet and drains, etc. But for us, our rentals give us income each month (the rent pays the mortgage payment plus extra) and we would be in a tight spot without that rental income. <BR/><BR/>I'm not saying these options are for everyone because it is a little scary buying and owning multiple properties, but after the first couple times it gets a little easier. (My husband like to take more risks than I do!) <BR/><BR/>Since the housing market is really down right now, houses are really starting to go down in price, because people are just wanting to get rid of them. Plus, living in a college town, there are always renters available. It's just being picky and finding the right ones!<BR/><BR/>I think there needs to be a distinction between "good" debt and "bad" debt. I don't think there is anything wrong in having debt if it's something that will continue to appreciate, such as real estate. I think the trouble comes in when people get in over their heads - buying a house far too expensive for their incomes, or buying brand new vehicles - then they just create more problems for themselves. I think sometimes people are so afraid of the word "debt" that they don't want to take any risks. But I can attest to the fact that sometimes "good" debt can really pay off.Kristinhttps://www.blogger.com/profile/01282570959779799478noreply@blogger.comtag:blogger.com,1999:blog-6988275145038032119.post-22408174234659086912008-06-17T13:29:00.000-06:002008-06-17T13:29:00.000-06:00Jessica,Way to go! Sounds like you guys made the ...Jessica,<BR/><BR/>Way to go! Sounds like you guys made the best decision you could have regarding housing. <BR/><BR/>3 22nds,<BR/>I agree that putting your money into land or housing is a good investment!LShttps://www.blogger.com/profile/06922592892646378973noreply@blogger.comtag:blogger.com,1999:blog-6988275145038032119.post-24987977863008832022008-06-16T18:04:00.000-06:002008-06-16T18:04:00.000-06:00Somebody (was it Larry Burkett?) wrote that it was...Somebody (was it Larry Burkett?) wrote that it was okay to take a loan to buy something that increased in value (a home, land), but discouraged it for things that depreciated (cars, and nearly everything else).<BR/><BR/>-NThe Three 22ndshttps://www.blogger.com/profile/17837614628832423777noreply@blogger.comtag:blogger.com,1999:blog-6988275145038032119.post-38792462589085711892008-06-16T16:26:00.000-06:002008-06-16T16:26:00.000-06:00I know for our family, we were trained to work whi...I know for our family, we were trained to work while you can so that you can work on raising your family when it comes along- with less worry about what you are going to do for a home. We decided that renting (for us) is a waste of money that could have otherwise been spent on paying down on our mortgage. The rent where we live is fairly high...some is even more than the mortgage we pay for currently. We DID save the 20% down ahead of time and our goal is to eventually pay off the home. I am so thankful that we worked our life this way. <BR/>My own opinion on living "debt-free" is that a person/family who pays any kind of rent or mortgage isn't actually living debt free, until you own the title free & clear ~ regardless of the bills, or lack-there-of.♥ Craig & Jessica ♥https://www.blogger.com/profile/18032594729014371977noreply@blogger.com