When I bought a condo for the first time it scared me to death to sign a mortgage.
But the timing was fortunate, and very quickly I got equity. So much equity that it began to be a force to reckon with. What should I do with all this theoretical money?
First thing i did was get a home equiity line of creidt and pay off the 2nd mortgage that I had to have to buy the thing in the first place.
But I still had a lot of equity left over. Twice my yearly salary of equity, as a matter of fact. So.
What should I do with equity?
It was a huge amount of cash. But it wasn’t cash. It was equity–a special kind of value that had to do with the value that some people placed on some thing in a certain circumstances.
A strange sort of money. A weird sort of stock option for a company that doesn’t have stock yet. There are only a few ways to wisely spend equity-money.
I determined what kind of buyer I could find for this kind of money and leveraged it well. I sold the condo and bought my dream house.
Then the equity disappeared. I have no equity in my house anymore. But equity only means opportunity.
And opportunity only counts if you take it.
I find that i am possessed of another kind of equity. Career equity. I have amassed skills and experience in my career. And that is valuable to certain people in certain circumstances.
I just have to figure out how to get the best buyer. And be willing to take some risks.
Fortune favors the bold. And time always gives some king of equity. I want to spend it wisely.