Two people disagree on whether buying a house builds wealth or renting does. One says homeownership stops enriching your landlord; the other points to a large investment portfolio and the headaches of managing rental properties.
Don't buy a house. No. Imagine if you didn't buy a house and all you did was just rent.
Okay, I do that.
That money that you pay every single month. 1. You're making someone else's rich.
Don't care.
You're paying down someone else's debt.
Don't care.
After three to five years, guess what? You don't even own the house. You have nothing.
Don't care because I have a massive portfolio.
You should buy a duplex, a triplex or a pork.
I could do that. That's also valid. I just don't want to have to fix other people's faucets. I send a text message, problem solved.
Rent out the rest and have the renter pay.
Yeah, you could do that. If you factor in all the vacancies, all the maintenance, all the expenses, instead.
Of being the renter.
One way to be.
Rich and make the renter.
No. You can get rich renting, too. I do it. So do many people. In New York, California, lots of places.
Let's go get this moaning.
Okay, cool.
