Home and community
Out of context: Reply #2
- Started
- Last post
- 7 Responses
- shellie1
In 2008 there was a very affordable duplex blocks from the beach in LA my homie and I used to ride our bikes past. We joked about buying it for weeks, half serous. Had we done that, we probably would have almost doubled our money by now. We had a moment the other night, where we were deeply depressed by not taking that more seriously. I probably wouldn't still live there, but id own a piece of extremely lucrative income property right now had I done that. We would have qualified to buy when the market was rocky very early and it was under priced as a foreclosure. I'd say, if the stars align, don't hesitate. Just don't over leverage yourself so you have options.
You don't have to stay in your investment property forever. Keep your costs down, save, and buy a condo or something low maintenance next and continue building your real estate portfolio. Get new renters as you upgrade or expand to something different. Repeat.