Over the last 6 months, I have begun acquiring long-term rental real estate at a pretty fast rate. After a seller accepted a recent offer of mine, I naturally took the contract to the bank.
After reviewing my personal financial statement and given my largely new real estate portfolio value relative to my equity position, the bank required a much larger down payment to finance this property than past loans. The loan officer commented that I had more than enough liquid assets to make this down payment if I would sell some of my Bitcoin. Rather than sell Bitcoin to fund this downpayment for cashflowing real estate, I exercised the financing contingency in the sales contract and backed out of the deal due to inability to obtain financing.
I tell you all this because I believe that the Bitcoin position in my portfolio is far more valuable than anything else I could reasonably buy. The thought of selling even a single sat to purchase anything else just seems foolish.
Keep stacking!
Submitted August 28, 2021 at 12:23AM by FU_money_pharm17 https://bit.ly/3gE1nTi
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