One day you’re 12 years old with a list of dreams. The next, you’re 62 with a completed to-do list. Life is but a dream. We closed another circle yesterday.
We’re not traditional savers. We own mobile home parks that provide our mostly-passive income streams.
When we want big-ticket items, we do something most people don’t.
We buy another income stream to pay for them first.
So four years ago, when we wanted to add three major outbuildings to our property, we bought another mobile home park first.
We then got a home equity loan, bought neighboring lots, had the buildings constructed & used a chunk of the new park’s income to make the monthly payment.
This got us the buildings sooner & got them for “free.”
This week, we sold that mobile home park & paid off that home equity loan.
The circle is now complete.
Over four years, the park had earned enough equity to pay for our home additions. By paying off the loan, we didn’t “spend” that money. We just transferred it to increased equity in our personal home. So it’s sitting there for future use. “Saved.” Non-taxable.
All along, we received the enjoyment of the additions. That enjoyment cost us nothing & never has to be repaid. We don’t have to repay the time saved either.
There are many ways to create value from thin air.
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