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Suburban NYC real estate profit
Posted on 6/24/15 at 5:30 pm
Posted on 6/24/15 at 5:30 pm
With the cost of living skyrocketing in NYC, we invested in a property in the Jersey burbs. Long story short 10% increase in 5 months with housing demand rising. Any advice on when to get out? TIA!
This post was edited on 6/24/15 at 5:33 pm
2
Posted on 6/24/15 at 5:36 pm to Snatchy
I'm not sure I'd invest in real estate as a short term play unless I was flipping houses and I knew exactly what I was doing.
What were your goals going in? Costs are going to eat up some of that gain.
What were your goals going in? Costs are going to eat up some of that gain.
Posted on 6/24/15 at 5:51 pm to Snatchy
What is your basis for believing that you have a "10% increase in 5 months"? You'll also have to pay some fairly large taxes on that gain if you only hold the property for 5 months..
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