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

To: Don Green who wrote (14703)	10/29/2003 4:30:22 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Hmmmm.....where is the profit? Well, consider an agent who bought his first home in our town in 1969, lived in it for a while, saw a bigger or different home that was a good deal, so rented out the first house. Renter or a series of renters over the years have been paying down the mortgage on that first house for the agent, who by then has done the same thing with 3 or 4 other houses. Moved into each of them for a while, then rented them out and moved on to the next house. All the while taking the usual tax deductions for rental property. Then move back into each house for the required amount of time before selling to once again claim it as a personal residence and eventually sell it as a personal residence. Who needs an IRA when you own a number of houses with many hundreds of thousands of dollars of profit in them and mortgages which have been paid off over the years by renters? If you need cash, just sell off your inventory, piece by piece.