Re: OT for those that purchased a home 2 years ago

On Jul 31, 10:48 am, arlo payne <arlo_pa...@xxxxxxxxxxx> wrote:
I hope you purchased your house as a home and not as a short term investment.
If you did buy it as an investment odds are you are stuck pretty damn deep.

One thing that was always pounded into my head as a youth. Buy a house as a
home. If you really feel the need to invest in real estate then buy land,
appartments or commerciall units. There is no true profit on houses due to
repacement costs in most cases.

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If you purchased it truly as an investment, then you would have done
so at a nice discount, which means right now you're even money or
yeah, a little behind. Just like poker though, if you can find a good
spot you can make money. A friend of mine bought a 3 family in a nice
section of Providence, spiffed it up a little (a real little) and
rents out 2 units, lives in one for like $300/month and builds equity.
He's probably gonna sell it in under a year and make $30,000 or
something. Not too shabby but a shitload of work for sure.

.

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