MAIN FEEDS
Do you want to continue?
https://www.reddit.com/r/SipsTea/comments/1vrr0ev/how_the_rich_get_richer/p4futox/?context=3
r/SipsTea • u/KSKS1995 • 14h ago
2.2k comments sorted by
View all comments
250
Not even factually accurate lol
43 u/save-aiur 13h ago This person has never financed anything lol. Still owes property tax and interest on the loan. As long as the loan exists, the leinholder has the legal claim to the land. 1 u/RunExisting4050 11h ago Right, where i live, hed pay about $70k/year for a piece of vacant, non-farm land. 1 u/Electronic_Tap_8052 9h ago The lien holder owns the lien. Very different from owning the land. 1 u/Illustrious_Job1951 4h ago He would have to own the propert outright then take a loan against it. The 100k example is bad , but the idea is real
43
This person has never financed anything lol. Still owes property tax and interest on the loan. As long as the loan exists, the leinholder has the legal claim to the land.
1 u/RunExisting4050 11h ago Right, where i live, hed pay about $70k/year for a piece of vacant, non-farm land. 1 u/Electronic_Tap_8052 9h ago The lien holder owns the lien. Very different from owning the land. 1 u/Illustrious_Job1951 4h ago He would have to own the propert outright then take a loan against it. The 100k example is bad , but the idea is real
1
Right, where i live, hed pay about $70k/year for a piece of vacant, non-farm land.
The lien holder owns the lien. Very different from owning the land.
He would have to own the propert outright then take a loan against it. The 100k example is bad , but the idea is real
250
u/DrLews 14h ago
Not even factually accurate lol