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I am happy to report that, through the years, Olivia and I held firm and never splurged on extras during our investment journey. This means that we never took excess cash flow, refi money, or other real estate cash to buy a fancy car, upgrade our primary residence, or go on expensive vacations. This was very hard to do, since we had plenty of opportunities to use our profits to reward ourselves, but that was not our goal. Instead, we watched friends and family buy really nice cars, upgrade their houses, and take some pretty spectacular vacations while we were quietly using that cash for down payments, make-ready costs, and other real estate items.
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Michael Zuber (One Rental At A Time: The Journey to Financial Independence through Real Estate)