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re: $500k to invest. What does the MB recommend?
Posted on 8/31/13 at 4:54 pm to CajunAlum Tiger Fan
Posted on 8/31/13 at 4:54 pm to CajunAlum Tiger Fan
quote:
Why give advice?
Why be a contrary arse?
I didn't own a condo during the 08' crash but I know people who did. Their most difficult time of ownership was after the market started its down spiral. Some of the snow birds that typically vacation on the gulf coast did not during the winter months of 2008.
That's how I can give advice because I've studied the possibility of owning one for quite a few years now.
Condo ownership will not make you rich. It can help with your portfolio by increasing in value and making enough yearly (20-30k) to perform routine upgrades and to keep your investment value above inflation plus.
I would not recommend someone go into deep debt to own a condo. I do think that it may have a place if you can put down 40-50% and sit on it for a while.
1
Posted on 8/31/13 at 11:58 pm to Lookin4Par
quote:
would not recommend someone go into deep debt to own a condo. I do think that it may have a place if you can put down 40-50% and sit on it for a while.
I agree. I have two in Hot Springs that I bought when the market was way down. Making 8-9% after expenses. Not spectacular, but they've increased in value since then as well.
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