Posted by John Merchant on August 31, 2010 at 20:24:47:
“Money was gone in less than a month” could probably accurately define 90% of perpetual tenants who never accumulate a down payment because of today’s “necessities”.
The board-game “Cash Flow”, by Kawasake (sp?)is a great teacher of this timeless lesson. I’ve personally witnessed the light bulb going on in a number of youngsters when they realized that some of those gotta-haves might just wait while they gather a down payment to buy a rental or some other income producing investment.