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Originally Posted by dig420
yeah I think a lot of people are going to lose thier place when that starts to happen, all those dummies getting IO loans when every finance in the world tells you to stay away from them unless you're a pro at flipping these houses.
I rent out the lomita house for 3k/mth and I'm in it for the long term. If the market starts going bust that just means I'm gonna buy a few more houses while they're cheap.
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long term = gravy.
as long as you can weather a 10-12 year storm. The last time this happened in Cali, I knew a guy who was underwater for 9 years. I'm sure you're making enough cake to handle any negative cash flow if (god forbid) it happens.