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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: TheStockFairy who wrote (3234)	7/8/2002 2:24:00 PM
From: MulhollandDrive	Respond to of 306849

amazing... so what you're saying is you got yourself a roof overhead...rent is stable...spending money on yourself ...taking trips...basically enjoying life. i just cannot believe that you don't see the value of buying that lovely and tiny dollhouse of a moneypit... :)

To: TheStockFairy who wrote (3234)	7/8/2002 2:36:30 PM
From: Tradelite	Read Replies (3) \| Respond to of 306849

Stock Fairy...in my area, one might be able to buy that house (not as a residence but an investment--different tax treatment) and flip it to a custom builder in no time flat. Trouble is, (in my area) the custom builder would have been making the same offer to the owner long before the owner even thought about selling it to you, if the neighborhood had potential. So the bottom line is....what's the neighborhood and your market like? (See, it does matter WHICH real estate market we're talking about when it comes to deciding what to do about property in the current market). Generalized statements don't work well.

To: TheStockFairy who wrote (3234)	7/8/2002 2:52:40 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

on second thought.... that place ain't so bad.. look what $300K buys in Culver City..only $400/square foot.. (I mean we are talking "potentially adorable" cottage here.) :) realtor.com

To: TheStockFairy who wrote (3234)	7/8/2002 3:05:37 PM
From: Spekulatius	Respond to of 306849

I think this property could have potential, if it is in a decent and upcoming area. I skipped on buying a similar looking property during the gung-ho RE boomtime in Y2000 and regret not buying this 'dump' then - i could have made 20% during a time when the median fell 10% in my area. I would not skimp on the home inspections and would try to get an estimate on the upgrades you need to do right away, so you know what the real cost will be. Cheap houses in upcoming areas can appreciate in value even the the local RE market is in the doghouse.

To: TheStockFairy who wrote (3234)	7/8/2002 4:45:06 PM
From: MSI	Respond to of 306849

"I can't tell if I'm living the American Dream or not " FWIW, a family member is doing what you are doing... <vbg>. Unlike me, he's got everything into bonds, is enjoying life the last 3 years, no stress, and probably in the next couple will evaluate other investments like equities and/or real estate... Personally, I've got an aggressive attitude toward real estate primarily because I think I can extract and enhance value a number of ways, rehab, rezone etc., and I'm reducing non-producing holdings anyway. Considering the hemlock the economy's taking and will continue to take for a while yet, unless you can see how to preserve or increase r.e. equity I'd say have fun, accumulate safe assets. If you believe conservative investors like bobbrinker.com, you'll get 5%+ APR on safe investments like GNMAs and have liquidity ready for the big cyclical bull market swing that will eventually arise, and get more out of that than an average home purchase. All just imo, of course.