buying real estate ruined my life?
I had just graduated from college at 36 with a degree in political science. (I went back later in life and got my degree to complete it). I had finally got my degree. I was happy.
I had borrowed 26k in student loans at 3%. I also had saved 10k and out that in the bank. I had no other debts. A roommate had told me he bought some land for 6k. and now it was worth 40k in less than two years. So I bought some land for 33k in 2005 too.. I figured why not? I had been renting my whole life and now is the time to own the american dream. Then I bought a condo in 2006.. I was working as bartender and could afford it. But not a career.
I figured i could flip a few properties and a chance to pay off my school loan. everyone was telling me market was hot. quit wasting money on rent. BIG MISTAKE. Now im 15ok in mortage debt….interest only loans…no career lined up. Im 40 years old. I ruined my life. I should have went to law school. I may move to chicago and rent condo. Any suggestions?
Sell the properties?
Foreclosure of the American Dream
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