Turn Your Fear Of Buying A Home Into Tax Free Wealth | David Bach

Leave an Amazon Rating or Review for my New York Times Bestselling book, Make Money Easy! (lewishowes.com/review)
Check out the full episode: greatness.lnk.to/1988DM
David Bach heard a CNBC guest say renting in Brooklyn and investing the difference beats owning. He thinks that math is wrong.
Put $20,000 down on a $100,000 home. It grows 10% and you just made $10,000 on $20,000. That's a 50% return.
Then the tax piece. Sell your own home after two years and the first $250,000 of profit is tax free. Married, it's $500,000.
Bach has done it with a San Francisco home and two in New York.
His first place was a complete dump he bought with his best friend. Every dollar went in, with under six months of expenses saved on a commission only job.
He called his dad, scared he couldn't make the mortgage. His dad said, “Well, son, nothing will motivate you like that.”
His plan is three homes over a lifetime. Rent out two, pay off the third.
Can't afford it? Buy anyway and rent rooms to your friends.
Sign up for the Greatness newsletter:greatness.com/newsletter

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.