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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: daffydog who wrote (36999)	12/24/2000 8:22:23 PM
From: chaz	Respond to of 54805

Mark, Your dying relative supposition happens all over Florida all the time. In 1973 my mother paid $27,000 for a condo in St. Pete, which I inherited in 1998 on her death, and which was then valued at (gulp) $22,000 according to the comps in the project. Relatives living elsewhere sold at any quick price, making no effort to come to the State to fix-up the property. I, on the other hand, was there, and decided to completely redo the place (spending merely $6,000 to do so), eventually selling, in November 1999 for $57,000. The condo was clearly not a good investment for my mother, but the $6,000 was for me. Housing is a good investment only because it is margined with a mortgage, if you have a revenue stream to support it. If I owned a house today, it would be on the market. Chaz