Listen to the latest 60 second episode of Integrity Moments with Rick Boxx
There’s a radio program that’s about buying real estate with very little cash. The host of the program claims he can make us rich if we borrow as much debt as possible to buy real estate.
The result, however, is an upside-down pyramid of debt.
As a young man, I borrowed excessively to buy real estate. You can make money, if everything goes right. But if interest rates soar or the economy crumbles you risk everything.
Proverbs 22:26 says, “Do not be one who shakes hands in pledge or puts up security for debts;
if you lack the means to pay, your very bed will be snatched from under you.”
God’s way is to recognize that debt comes with significant risk. More cash and less debt is a better path.
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