First it was Eagles fans taking out second mortgages for Super Bowl tickets. Now, a Bellingham, Washington man has borrowed against his home to spread "the gospel of beer." Says Dave Morales, who opened the ‘Bottle Shoppe’ which stocks over 200 different beers, and has yet to turn a profit.
"Forget the wine snobs, beer is more complex and has more variety than wine."
ยทMan Borrows Against His Home to Spread the Gospel of Beer[AZ central via AP]*Image courtesy of Operation Beer Money
Though it makes a nice headline, and the ‘Gospel of Beer’ quote is a good one, this isn’t really a particularly unusual story. It certainly doesn’t qualify as a reckless use of home equity, which the headline sort of suggests. He’s just a guy who used some of his home equity to start up a business – something countless others have also done.
We’d love to see a follow-up ten years from now when Dave owns a dozen ‘Bottle Shoppe’s’ and can point back to the home equity loan that allowed him to get his start.
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