4.6 • 682 Ratings
🗓️ 25 August 2023
⏱️ 9 minutes
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0:00.0 | All right, let's go out to Naima in Detroit. |
0:08.4 | What's up, Naima? |
0:10.5 | Hi, how are you guys? |
0:11.7 | Thank you for clicking my call. |
0:12.8 | Thank you so much for calling. |
0:13.7 | We're doing great. |
0:14.3 | What's up? |
0:16.2 | Okay, so I have a very interesting situation. |
0:19.1 | So my husband and I live in a duplex that we purchased about six years ago. |
0:24.6 | We live in the top unit and we have tenants in the bottom unit. |
0:27.5 | We have two children. |
0:29.1 | We're sharing one car right now that's being leased. |
0:32.2 | And so we're about $53,000 in consumer debt. |
0:36.1 | And we owe about $180K on the home. And so the home is not in the |
0:42.9 | greatest neighborhood. Like I said, we have two children, so we're kind of outgrowing the home as |
0:47.1 | well. And so this is for your show. I told my husband, I said, I think we should, you know, |
0:51.6 | sell the home. And we look to make about, you know, |
0:54.6 | anywhere from 100 to 150K on the profit of the house. And so we would be able to pay off all of our |
0:59.6 | debt. We would have a fully funded emergency fund, be able to get rid of the lease and purchase |
1:04.6 | two cars, if we really need cash, and then also have a down payment on a future home. So it does a lot. And so he's convinced |
1:12.2 | that we should keep the home and I kind of feel like he's kind of gambling our potential future. |
1:17.0 | He feels like it's this unicorn of investment. And after, you know, X amount of years, we're going to |
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