TMP went ‘slight sideways’ in value this month; slightly down $2K. Gold inched into second place.
Are we really in a housing meltdown? I don’t think so. Neither does Jeff. Here’s Jeff’s report “2023 Phoenix Housing Update: A Housing Meltdown vs. Reality”:
Our houses show slight decreases/increases/decreases in equity:
Why doesn’t everyone do a monopoly project and get rich? Or any of the “other ways” of getting rich? I found this article to be particularly informative, “10 Reasons Most People Will Never Become Rich”.
“It takes a long time:
Building wealth takes a long time:
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- The Saver/Investor Path takes an average of 32 years
- The Big Company Climber Path takes an average of 21 years
- The Virtuoso Path takes an average of 20 years
- The Dreamer/Entrepreneur Path takes an average of 12 years”
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And “Each one of the four paths to wealth requires making certain life changes.” Most people would rather be comfortable than rich.
What’s next for TheMonopolyProject and TheMonopolyProjectTwo? Are we following Jeff’s advice?
Yes, of course. We are looking at triplexes and fourplexes in the Phoenix area. We have about $150K equity in 29th Avenue, see above. With that we could trade (1031 exchange) into a $750K or slightly more property. The problem now is that interest rates are so high, that we end up in a cash flow zero situation. We are now looking at properties outside of Phoenix.