{"id":770,"date":"2007-06-19T04:34:00","date_gmt":"2007-06-19T04:34:00","guid":{"rendered":"http:\/\/www.teamfranklin.com.php53-27.dfw1-2.websitetestlink.com\/?p=770"},"modified":"2012-08-13T21:23:56","modified_gmt":"2012-08-13T21:23:56","slug":"greatest-payment-of-them-all","status":"publish","type":"post","link":"https:\/\/teamfranklin.com\/greatest-payment-of-them-all\/","title":{"rendered":"GREATEST PAYMENT OF THEM ALL"},"content":{"rendered":"

\"\"id=\"BLOGGER_PHOTO_ID_5077629285300240290\"<\/a><\/p>\n

Many people detest their monthly bills. Monthly payments include the car, electric\/heat, cable, phone, mobile phone, insurance, wireless, VISA, department store cards, mortgage and on and on. In the full scheme of things, you should not fear your monthly debt so long as you are “mortgage heavy”; as long as you can afford it all.<\/p>\n

Take your car as an example of the opposite effect. Aside from image, the car payment is not an investment. It is a cost. It is the vessel that gets you from point A to point B that depreciates without fail. The problem for many of us is that many times, our car is our identity, which does matter in a lot of cases. I happen to think it matters in my profession.<\/p>\n

On the other hand, your mortgage is a great tool for generating wealth. In theory, your mortgage is the best savings account you can have. For most of us, we don’t manage ourselves well enough to put the proper amount into a traditional savings account. This is the value of the mortgage. Every single month, you must… MUST pay that payment. At the same time, while you are “paying in,” your house (in theory) should be appreciating. What I am saying is that you will get your payment back + appreciation. The key to this is that you either need to buy “right,” or stay in the home for a while. After all, you have to live somewhere.<\/p>\n

The same goes for investment property. Let’s say you collect 20 $100,000 homes over 10 years, and put them on a 15 year mortgage. After your renters pay (almost) all of the payments for you over the 15 years, you now own $2,000,000.00 <\/strong>in brick,mortar and dirt BEFORE APPRECICATION<\/strong>!<\/p>\n

Now, to be sure, this is quick math. Not all property is going to be a perfect investment, but the great majority will if you have a good Realtor.<\/p>\n

Investments aside, your mortgage is the greatest payment of them all. It MAKES you pay. If you don’t feel comfy, sell. If you can handle it, pay it. You will be rewarded over time. Again, you have to live somewhere.<\/p>\n","protected":false},"excerpt":{"rendered":"

Many people detest their monthly bills. Monthly payments include the car, electric\/heat, cable, phone, mobile phone, insurance, wireless, VISA, department store cards, mortgage and on and on. In the full scheme of things, you should not fear your monthly debt so long as you are “mortgage heavy”; as long as you can afford it all. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,1],"tags":[],"_links":{"self":[{"href":"https:\/\/teamfranklin.com\/wp-json\/wp\/v2\/posts\/770"}],"collection":[{"href":"https:\/\/teamfranklin.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/teamfranklin.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/teamfranklin.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/teamfranklin.com\/wp-json\/wp\/v2\/comments?post=770"}],"version-history":[{"count":2,"href":"https:\/\/teamfranklin.com\/wp-json\/wp\/v2\/posts\/770\/revisions"}],"predecessor-version":[{"id":2222,"href":"https:\/\/teamfranklin.com\/wp-json\/wp\/v2\/posts\/770\/revisions\/2222"}],"wp:attachment":[{"href":"https:\/\/teamfranklin.com\/wp-json\/wp\/v2\/media?parent=770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/teamfranklin.com\/wp-json\/wp\/v2\/categories?post=770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/teamfranklin.com\/wp-json\/wp\/v2\/tags?post=770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}