Archive for July, 2010
I bought a 2 unit for $25,000!
Thursday, July 29, 2010
Chicago 2 unit purchased for $25,000.
In 1986, yes that was what I paid for my 1st 2 unit in the back of the yards neighborhood in Chicago.
It was an estate property and I inherited all the furnishings in the house which I threw out the
2 back doors. The neighbors were all coming buy and taking the dressers and furniture and even the tub. The
tub was the old school cast iron tub on footstels.
I guess all that stuff was pretty valuable!
One mans junk is another persons Treasure!
It would not be the last time I threw out 30 years worth of someones collections…
Here is the Crazy part,,,, I can now buy that property for the same price that I paid 24 years ago!!!!!
Who says real estate never goes down?
Real estate has proven to me to be cyclical as commodities, metals, or the stock market!!!!
My friends,,,can it go any lower?
I do not have a crystal ball, but my guess is we are near the bttom?
What do you think?
Let me know your thoughts?
comments (0)
What would you do with 1 million in cash?
Thursday, July 8, 2010
What would still invest in Real Estate if you received
1 million in cash tomorrow?
I wonder how having 1 million in the bank would change
your perspective?
Would you still buy the same types of properties? In the
same neighborhoods? Would you look for bigger deals to
earn bigger profits. While taking on more risk?
Would you become the money lender and stop being the
landlord? fixing broken pipes, cleaning empty apartments.
Would you park it in CD’s certificates of depreciation, but
safe?
I bet everyone has a different answer?
Who is richer? the person with 10 million or
the person with 10 kids?
I am in the process of writing a book and I ask myself alot of
questions that can help make my book more interesting.
If you want to tell me what you would do with your million?
add your comments below.