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re: What % of your investment assets = hard assets (ex, Real Estate)
Posted on 8/12/13 at 2:19 pm to tirebiter
Posted on 8/12/13 at 2:19 pm to tirebiter
quote:A few luxury end builders in the area do something similar. Build a nice home as a spec. Move in for a while if it doesn't sell. Then unload the property as soon as profitability allows. Two I know, do quite well. But, as you point out, the process is difficult on the family. They live in nice places, but without a real sense of ownership.
I'm not knocking the flipping as being single and able to move easily is one thing, but it would be so cumbersome to move out of our existing house to go flip an owner occupied investment property I would not consider it and my wife would say F no regardless.
1
Posted on 8/12/13 at 2:40 pm to NC_Tigah
Yeah, I know a guy that does it and almost went BR in 2009 on some high end property, buying sub-$100k is a much different scenario. Just installed a 6' cedar capped privacy fence and waiting on a 8 1/2 foot leather sofa to be delivered - the moving and other costs, buildout, delays, frustration, 2- big dogs that need a large yard, etc is not a lifestyle fit at the present but can definitely see making money if it's done properly.
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