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Landlord breaks down in tears over 'embarrassing' $30,000 dilemma: 'Don't want to sell'
An Aussie landlord who owns her own home, along with two investment properties, has shared her dilemma over not being able to afford dental treatment. The woman said she shops at Kmart to keep costs down and doesn't have a fancy car, but there was “nothing left” in her and her husband’s budget.
The woman, Sue, wrote to the Barefoot Investor Scott Pape for help, sharing that she needed dental treatment that would cost upwards of $30,000. But she didn’t know where she would find the money.
The woman is a qualified nurse so understands the impact bad teeth has on health, not to mention how “embarrassing, and at times painful” it was.
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Scott Pape: Landlord Breaks Down Over ‘Embarrassing’ $30,000 Dental Dilemma — Brutal Financial Choice Revealed
Facing a choice that many would consider unexpected for a property owner, a 43-year-old nurse and her lawyer husband revealed they cannot afford more than $30, 000 worth of dental treatment despite owning a home and two investment properties — a situation that prompted them to write to scott pape for guidance. “I am in tears as I write this, ” she said, describing being “asset rich, cash poor, mortgaged to the hilt” as childcare and mortgage costs squeeze their budget.
The couple say their two investment properties cover their own costs but provide little extra cash. Both investments have “gone up significantly in value, ” yet they are unable to refinance with their bank and do not want to sell because they fear losing half the gain to capital gains tax. Their household outgoings are substantial: a primary mortgage of $7, 000 a month and $3, 000 a month on childcare, while their superannuation balance stands at $416, 000. The nurse described the dental problem as “embarrassing, and at times painful, ” and contemplated dipping into retirement savings or traveling to Thailand for cheaper treatment.
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