Can you avoid debt?

[Matt Carroll]

I’m currently in the Rehab process of my first Brrr and wondering how to avoid continuing to go into debt using the Brrrr strategy? Or is that just part of it?

I’m interested in a multi family unit and advancing other properties but feel hesitant because of taking on more debt. Any thoughts from BP folks would be great!

[Michael Ealy]

Originally posted by @Dennis M.:

Avoid debt and You’ll avoid getting wealthy  

 Totally agree with Dennis.

In general...

Billionaires have higher level of debt than millionaires.

Millionaires have higher level of debt than the average American.

I probably have more debt than 99% of people here on BP but I make more money in a month than what 99% of people here on BP makes in a year.

Good debt (debt on investment real estate) makes your richer and richer.

As long as you have a lot of cash in the bank (operating, capex and personal) and you have 30% equity (or more), you will be fine even if you're a BILLION dollars in debt.