About Us

"Jim," wrote in message
...
wrote:

NOYB wrote:

There is one home (out of 31 for sale in my neighborhood) under 7
figures.
It's 1500 sq ft., was built in 1960, and is priced at $959k.

************

31 homes for sale in your "neighborhood"? Either its a big
neighborhood, or that full size Bush billboard in your front yard has
everybody p-o'd. :-) (kidding)

Illustrating my point, exactly. Lets say you paid $500,000 for you pad,
and it would now sell for
$1.3mm. If you sold your house for that price and needed to move to
another just as nice, it would cost you $1.3mm to buy an equivalent
home in the same area.

Now, if you had purchased two or more homes when they were selling for
$500,000 apiece- each of them beyond the one you consume each month by
living in it would actually be an "investment." If you sold two
investment homes corresponding to the above example you would have a
gross capital gain of $1.6mm, not a bad payoff for simply sitting
around cashing rent checks for a few years.

Ummmm -- Realtors commission, survey and other transaction expenses?

Assuming you can rent the properties 12 months out of the year, make the
payments on the mortgage, and pay the interest, taxes, and upkeep while you
owned them.

I can't afford to do that on my primary residence *and* and investment
property. At least not *yet*.

Thread Tools	Search this Thread
Show Printable Version	Search this Thread: Advanced Search
Display Modes
Switch to Linear Mode Hybrid Mode Switch to Threaded Mode

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Just for basskisser!	JohnH	General	32	February 8th 05 06:16 PM
Yamaha unions - basskisser, where are you?	John H	General	94	February 25th 04 05:12 PM
Rec.Boats. N.Florida Boaters Attention - you could lose your dock!	Capt. Frank Hopkins	General	2	January 24th 04 11:30 PM

Menu

About Us