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Updated over 7 years ago,
I made my tenants pay my child support
From my mentor:
In 2002 I did my first ever refinance on a cluster of 17 rental units I owned in TN. Interest rates were LOW. So I got into a longer term, lower interest rate mortgage and got cash out of the deal too. I had been holding these properties about 8 years and had substantial equity accrued.
I haggled with my ex-wife for a lump sum payoff of child support 5 years in advance but I got the kiddos tax credit for the next 5 years as well as personal exemption. Bought a 2002 Toyota 4Runner, paid off my 2000 Honda Accord note all while producing $500 more in positive cash flow per month. Soooo my cash flow ratios got stronger.
That is how a "thug" rolls.....