likesleague t1_itzb8at wrote on October 27, 2022 at 12:28 PM

Reply to comment by hanselandmetal in (eli5) How do people get super rich with real estate? by neverever1298

I don't think a five year old knows what refinancing to take advantage of tax benefits is, or packaging a portfolio. Other than the 3rd paragraph it was easy to follow though.

Defiant_Revolution44 t1_itzjj1q wrote on October 27, 2022 at 1:35 PM

You never know. Kids these days understand way more than what we used to do.

x1uo3yd t1_itzr50s wrote on October 27, 2022 at 2:29 PM

> "LI5 means friendly, simplified and layperson-accessible explanations - not responses aimed at literal five-year-olds."

This is from the /explainlikeimfive/ rules; the OPs response is fine.

likesleague t1_itzsw36 wrote on October 27, 2022 at 2:40 PM

OP asked how people get rich with real estate; I doubt they (or the average person who does not have an asset portfolio) knows what refinancing actually is, or what packaging a portfolio is.

Me referencing an actual five year old was just tongue in cheek.

x1uo3yd t1_itzui58 wrote on October 27, 2022 at 2:51 PM

The fact that two technical terms appear in a sentence that basically says "Rinse and Repeat" does not suddenly make it inaccessible.