Quote:
Originally Posted by AaronM
I know multiple members of this board who are worth millions and have the cash to back it.....I personally know for a fact that some of those people own multiple homes which are also worth millions of dollars. These people buy the homes on credit.....Not because they have to but because of the tax advantages plus it keeps their money in their own banks earning interest.
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If you are doing real estate biz then by all means do it. I was talking about regular people who rack up debts yet just claim they are doing it to better their credits. Another thing is there's no tax benefit to having mortgages (your own home) in all countries so that won't apply to everyone outside usa.