Quote:
Originally Posted by octothorp
No such thing as good debt
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Bill Gates disagrees. Warren Buffett disagrees. Many, many people who have borrowed to buy, start or expand a business disagree. I know two people who borrowed to start electrical contracting businesses and are now wealthy; they disagree. I know a couple of land barons who disagree. I know someone who borrowed to buy apartment buildings and rental houses; he disagrees. I have a friend who borrowed to build commercials buildings and retired at 40; he disagrees. The people here who have built their net worth with debt would, I believe, disagree.
I'm not saying it's for everyone but business is built on debt. You may dislike debt but that doesn't make it wrong.
Smarts + money + hard work = success. If you don't have the money, you have to borrow it.