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My Son who lives in Orlando bought his house 11 years ago during the great housing bubble bust for 70,000 on a short sale. He currently has a firm cash offer of $255,000. He hasn't pulled the trigger yet but that is going to be hard to pass on.............
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sigpic2002 KLR650 Ugly but fun!
2001 KLR650 too pretty to get dirty
Life is a balancing act, enjoy every day, "later" will come sooner than you think. Denying yourself joy now betting you will have health and money to enjoy life later is a bad bet.
Where I've been Riding
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Good for him! You need double that just to buy a one bedroom condo here...and that's an opening price point...No signature :( -
Yes, prices are nuts in Orlando too, if he accepts the offer I expect he will rent for a while and wait for the market to settle.sigpic2002 KLR650 Ugly but fun!
2001 KLR650 too pretty to get dirty
Life is a balancing act, enjoy every day, "later" will come sooner than you think. Denying yourself joy now betting you will have health and money to enjoy life later is a bad bet.
Where I've been Riding
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Scott, the question would be where is he gong to live after he sells his house and how much will that cost?
...Believe in truth. To abandon fact is to abandon freedom.
Nature bats last.
80 GS850G / 2010 Yamaha Majesty / 81 GS850GComment
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Yes it is. He works for a high end property management outfit and will likely need to stay in the area. I told him to factor what is next into his decision.sigpic2002 KLR650 Ugly but fun!
2001 KLR650 too pretty to get dirty
Life is a balancing act, enjoy every day, "later" will come sooner than you think. Denying yourself joy now betting you will have health and money to enjoy life later is a bad bet.
Where I've been Riding
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Originally posted by dpep View Post
Frequently. after deducting costs of a sale, one will not be able to afford to buy anything worth close to what they sold.Komorebi-The light filtering through the trees.
I would rather sit on a pumpkin and have it all to myself than be crowded on a velvet cushion. H.D.T.Comment
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I know folks who paid $47k and sold for $1.3 mil 48 years later. So glad I was related to them!
I'm watching Inside Man - when there's blood in the streets, buy!1982 GS1100E V&H "SS" exhaust, APE pods, 1150 oil cooler, 140 speedo, 99.3 rear wheel HP, black engine, '83 red
2016 XL883L sigpic Two-tone blue and white. Almost 42 hp! Status: destroyed, now owned by the insurance company. The hole in my memory starts an hour before the accident and ends 24 hours after.Comment
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If your son hasn't leveraged his equity, IMO, he has a better option. Purchase a primary residence and keep his current home as an income property.
Run the numbers...........Comment
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I agree with this, It's the best way to build wealth overtime.Originally posted by Vmass View Post
Every property I sold, I sold too early, timing the market hardly ever works in the favor of the seller.
David.2018 Honda Africa Twin AS
2013 DR 650 Grey, sold 1981 GS 650E Silver,
1980 GS1000ST Blue & White, X2
2012 DL650 Vstrom Foxy Orange, in storage
1981 CT110 X2 "Postie Bikes" Gone to a New Home.
2002 BMW 1150 GS Blue & White - Sold
1975 BMW R90/6 Black - Sold 1984 GS1150EF Sold
1982 BMW R100 Africa trip, Stolen - Recovered- Sold
1977-1980 Suzuki GS550, GS1000E, GS1000S GSX750, GSX1100,s
Hondas ST90, CR125 CB175 , CB350 CB750, NSU Quickly, Yamaha RD's 350/400,Comment
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Except for a couple of hiccups, property has always gone UP. Seems if he sells today he will profit $185K, pretty good for 11 yrs. You never know but how about keeping for another yr & selling for $275K, that would be a $205K profit in 12 yrs....decisions, decisions !!! In my area things seem to be moving that fast & faster, really crazy..1983 GS1100E, 1983 CB1100F, 1991 GSX1100G, 1996 Kaw. ZL600 Eliminator, 1999 Bandit 1200S, 2005 Bandit 1200S, 2000 Kaw. ZRX 1100Comment
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Talked this evening, the offer is still on the table but he is leaning towards a cash out refinance. Do some upgrades and stay put.sigpic2002 KLR650 Ugly but fun!
2001 KLR650 too pretty to get dirty
Life is a balancing act, enjoy every day, "later" will come sooner than you think. Denying yourself joy now betting you will have health and money to enjoy life later is a bad bet.
Where I've been Riding
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Here's how I see it. If you where to have sold your home in 2007 just before the bubble burst and sat on the cash you could have bought several more properties a couple of years later.1980 Yamaha XS1100G (Current bike)
1982 GS450txz (former bike)
LONG list of previous bikes not listed here.
I identify as a man but according to the label on a box of Stauffers Baked Lasagne I'm actually a family of fourComment
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That is a fact!
Few have the Discipline to sit on a pile of $$ very long though.sigpic2002 KLR650 Ugly but fun!
2001 KLR650 too pretty to get dirty
Life is a balancing act, enjoy every day, "later" will come sooner than you think. Denying yourself joy now betting you will have health and money to enjoy life later is a bad bet.
Where I've been Riding
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That's a tough call when your only transportation is a 40 year old motorcycle.Originally posted by marvinsc View Post
There was a bumper sticker I saw in Houston back in the mid 80's that stuck in my mind: "Lord, please let there be another oil boom, I promise I won't *@%^$*@%^$*@%^$*@%^$ it all away this time!"1980 Yamaha XS1100G (Current bike)
1982 GS450txz (former bike)
LONG list of previous bikes not listed here.
I identify as a man but according to the label on a box of Stauffers Baked Lasagne I'm actually a family of fourComment
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