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[just re-read your post, if portfolio loan is the same thing as a securities based line of credit then you can ignore]
Not sure how your net worth is looking / how much debt you have, but you can get a securities based line of credit for something like this.
I forget the rates, but if you have more than a million in your stock portfolio (excluding retirement accounts) you can get a pretty competitive rate. Obviously this isn’t ideal because the interest isn’t tax deductible, but this is basically what that product is made for - short term financing solution until you can get an actual mortgage.
Jealous of your garden leave situation. Sounds amazing to have a paid year off
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Securities based line of credit isn’t margin because you can’t invest it in more stocks.
Its just a loan with your stock as collateral. If you’re trying to buy a million dollar home and you have 1.2 mil in stocks, I wouldn’t recommend. But if you’re buying a place for $500k and have $1.2 mil in index funds, it’s a pretty great borrowing tool.
I definitely plan to take advantage of it when I get to that level
The loan you described sounds way better though
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Don’t use interactive brokers. Their margin loans are semi predatory. They can liquidate your holdings at any time.
stick to a reputable broker. Even though IB has unbeatable prices
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Yeah I think that’s the thing. You have to be proactive if you’re close to not meeting margin requirements. Schwab will give you an alert and ask you to post more Margin while IB will just liquidate
dude, go travelling.
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