Becoming wealthy and independent of the day time job.

How wealthy are you? 

It seems to me like it’s hard to compete in this market if you’re not making cash offers as a lot of wealthy investors from nyc and abroad are buying up property in philly right now.I looked at a market report for philly last week and if I recall correctly multi-family properties were up 25% in price from last year. 

Early retirement, healthy life style, travel, legacy and charity are all things I can accomplish through wealth. I

And a million will probably not even cut it.Growing wealth is much faster than 166 years using a different approach. 

Also our city was once a very wealthy city home to businesses, and high income business owners, it was not always rough, and it may not always be rough. 

Buying all cash and holding for the long term is great if you are already wealthy, but not realistic, especially for beginners.

Less risk of bad things happening if you're borrowing $100K from a wealthy relative that had $2 million in liquid assets.

There are big firms, small firms, and a few what I'll call "family offices" where the brokers primarily deal with the properties owned by a single wealthy individual/entity.

WOWI would try to find another way out of that situation.Unless you have millions of dollars in cash paying 200k to preserve credit and unload bad debt doesn't make sense.If 200k cash represents a large chunk of your liquid wealth I would not do that deal.I am not giving legal advice of any kind.