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SW Ontario | OPM, other peoples money...use it, it will get you ahead. BUT you have to cover the risks, have alot of long term interest so you know your costs and don't get caught remortgaging with high interest. It's nice to fly with the lowest rate possible but it can sink you if you have no wiggle room.
Another thing, book lots of crop with these high prices. Don't hold out for the 'high', book a PROFIT. If your levered, market accordingly. I have (and still am) highly levered, but this has made me (IMHO) a better marketer. When the price is on the table were I can cover all my costs, icluding big mortgage payments and living, I SELL. It has worked out well. | |
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Paying down land
