Just Further Proof that Some Can’t Afford the Luxury Lifestyle

In a recent article from the Washington Post about Luxury foreclosures, it is mentions how many expensive homes are falling into foreclosure across the nation. The main character of the article tells his story of buying million dollar homes, then flipping them for profit. He now has about a dozen homes being foreclosed on.

One thing he might have thought about was not speculating on real estate. He mentions reading Donald Trump and wanting to make money in real estate, but he goes about it the wrong way. He misses the number one rule when it comes to creating wealth in real estate, which is to hold for the long term. Instead, he tries to live the luxury lifestyle on the fast track and like most speculators, gets burned.

It just goes to show you that there is a difference in talking the luxury path, and walking the luxury path.

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