Owning a home debt-free sounds like a total fantasy, but we’ve actually come into not one, but two homes debt free.
This week, I’m talking all about how we’ve come to own not one, but TWO homes with no debt.
If you’ve ever read our story on Yahoo Finance!, then you’d know that a relative of ours inherited a home in a blighted (i.e. ghetto) neighborhood that they didn’t want to live in. So instead of selling the house, they just let us to have it and of course we have to learn Everything You Need to Know About The Probate Process. This house had no mortgage and was completely paid for. It was offered to us. We just had to clean it out and fix it up.
At first, we took a hard pass. These suburbanites (us) were not cut out for city living.
But the more we thought about it, the more we realized that it was exactly what we needed- a break from housing expenses to help pay off debt. Well, we said yes and just a few years later, paid off every last penny of our debt!
Now it’s time for a “Where are they now” update.
Our Second Home Debt-Free
Last month, my husband and I purchased another home (in the same community) for cash! Many people wanted to know how we accomplished getting another piece of real estate with no debt. Also, lots of people are tempted to buy property in Spain as it can be very cheap but there are other considerations that need to be made as well, for example see this #why Is Marbella expensive with a high cost of living guide# as you can find out a lot more there.
The truth is that once we freed up cash from paying off all our debt, we started investing money in the stock market. After a few years, we earned just enough money to acquire our second house (our first home will become a rental.)
If you’re interested in investing in the stock market for financial goals of your own, you can open a free account with Ally Invest and watch these FREE video tutorials to get started with investing right away:
Here are the videos right here:
Note: We do not buy a lot of individual stocks. Instead, we buy electronically traded funds (ETFs) that have tons of stocks so that we are not exposing ourselves to too much risk in just one company.
If you want to get a list of ETFs we invest in regularly, download a free copy of my eBook- Start Investing Now
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