Buying a House in this Market is Lunacy

Instead, I’ve got a better idea

Jordan Fraser
Money Clip

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Photo by Yosh Ginsu on Unsplash

To say I’ve been stressing out over money the past month would be an understatement, but not for the reasons you may expect.

About a month ago I achieved my ultimate dream, after roughly a decade of aggressively paying it down, I paid off the mortgage on my investment property and finalised my battle with the bank. As someone that was brought up surrounded by debt and very little free cash, I figured out early that debt was my enemy.

Somewhere in New Zealand there’s a little four bedroom house in that I rent out to a charming local family that’s now free and clear of the bank’s clutches, and that’s where the problem began.

A mortgage was never any stress to me, I know how to pay down a loan. I’m extremely aggressive, and see any type of loan as a war with who or whatever has lent the money. I don’t feel stressed when I have a goal and a clearly defined target because I’m a tactician (in the financial sense only), but let me wander around aimlessly and I’ll perish.

Once the mortgage was finished I was lost. I had a paid off asset that produced a tidy monthly revenue and no idea what to do next. I knew that the next logical step was to buy the next investment property, but it didn’t feel right.

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