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A radio commercial recently tried to entice me to sign-up for a course on “how to get rich buying real estate without using any of your own cash.” These get-rich-quick schemes are usually tied to the concept of borrowing your way to financial freedom.
The reality is that this practice usually leads to financial bondage!
As a former banker, I can assure you that incurring debt doesn’t always end well. Risk of failure increases dramatically, leaving you completely vulnerable the first time you lose a tenant or, the real estate market turns soft.
Proverbs 22:26 has a better idea when it teaches, “Do not be among those who give pledges, among those who become guarantors for debts.”
If you desire to prosper, do it the old-fashioned way, work hard.
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