Desktop User2
kiwifarms.net
- Joined
- May 25, 2020
Almost never with your homestead, never without proper financial knowledge and preferably to start a money producing venture, not a financial gamble. I understand 2021-2022 was a time of great exuberance because of the stimies but fuck..I think the leverage "play" he's been alluding to could've been done, though, but only with proper risk management.
The way he told that story sounds like he used the mortgage money to "help someone" (maybe just like he "helped" some Jamaican dancer with $1k, but with more coke involved).
The thing is, if he did not already have some liquid emergency financial reserve to deal with such matters, a move such as leveraging debt on your main home should never have been done.
I'm not a financial advisor, though.
It´s not even a leverage play - no multiplying factor - it was just liquidity.