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re: Gulf Shores/Orange Beach condos
Posted on 3/5/24 at 7:17 am to mikeytig
Posted on 3/5/24 at 7:17 am to mikeytig
Not addressing this to you, but many people forget the initial investment is just the down payment. I put 15% down on my condo. $60k of $400k purchase price. That was in 2021. I could sell for $650k, so my $60k has quadrupled in 3 years. I run a small profit only because I self manage, but I just put the money into upgrades; so I am not sure how that math would work out (and then you have to factor in the 50 hours per year of actual work I do in managing it)
I do hope that in 30 years, my place is worth $1.2 million, a 20 fold return (again, with work and a small yearly profit hopefully)
I do hope that in 30 years, my place is worth $1.2 million, a 20 fold return (again, with work and a small yearly profit hopefully)
Posted on 3/5/24 at 7:24 am to AndyJ
Leverage-or ROI-in real estate-is something most people don't factor in.
The same leverage can used in any investment, including equities, but capital cost is high and most don't have the stomach for it
The same leverage can used in any investment, including equities, but capital cost is high and most don't have the stomach for it
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