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SVTPerformance's Chain of Restaurants
Road Side Pub
Real-Estate Bubble Popping?
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<blockquote data-quote="VegasMichael" data-source="post: 16797873" data-attributes="member: 105950"><p>Yep. That's actually how Warren Buffet made some big money back in the day. He bought a vacation home in 1971 in Laguna Beach for 150k. He was already worth many millions then and could have paid cash but put down 30k and borrowed the rest because he thought he could probably do better with the money than have it be an all equity purchase of the house. Buffett ended up buying shares of Berkshire Hathaway with the money he <em>could</em> have used to purchase the home. As a result, he ended up turning the $110,000 or $120,000 that he'd have paid in cash for the home into a whopping $750 million because Berkshire shares have gone up so much in value.</p><p></p><p>The above quote was from this article, and I know it to be true because I've heard him state the same thing a few other times. </p><p>[URL unfurl="true"]https://www.fool.com/the-ascent/mortgages/articles/heres-why-warren-buffett-is-right-and-dave-ramsey-is-wrong-about-mortgages/[/URL]</p></blockquote><p></p>
[QUOTE="VegasMichael, post: 16797873, member: 105950"] Yep. That's actually how Warren Buffet made some big money back in the day. He bought a vacation home in 1971 in Laguna Beach for 150k. He was already worth many millions then and could have paid cash but put down 30k and borrowed the rest because he thought he could probably do better with the money than have it be an all equity purchase of the house. Buffett ended up buying shares of Berkshire Hathaway with the money he [I]could[/I] have used to purchase the home. As a result, he ended up turning the $110,000 or $120,000 that he'd have paid in cash for the home into a whopping $750 million because Berkshire shares have gone up so much in value. The above quote was from this article, and I know it to be true because I've heard him state the same thing a few other times. [URL unfurl="true"]https://www.fool.com/the-ascent/mortgages/articles/heres-why-warren-buffett-is-right-and-dave-ramsey-is-wrong-about-mortgages/[/URL] [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Real-Estate Bubble Popping?
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