Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Seeker of Truth who wrote (45798)	2/7/2004 4:03:19 PM
From: BubbaFred	Read Replies (1) of 74559

If I may put in my 2cents worth, it is a WISE advise - both buildings and land properties. Definitely can be done and it would only cost what youngsters waste on alcoholic beverages in bars and happy hours and from the waste of buying new cars. Buying a two or three year old cars saves a bundle that can be used for payment on those properties. With land, one needs to study the market and where the likely expansion of the nearby communities. The worst case is buying land out in the boondogs, but one can still expect minor gain that keeps up with inflation. The best scanrio is if the nearby community expand to where the property is located. Many of my friends and relatives made sizable gains from real estate. Even one who bought a piece of land where there has been no growth for 20 years, he is now selling it in small parcels as "future vacation home site" or "Own a piece of American property" for about $5,000 to $10,000. He carries the loans with terms. The default rate is about 30%, so he got those properties back which he then resells them again.

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