- Buy low and sell high is a foundational ecomoic principal that was taught when I was in business classes. This applies to all businesses, I think. Otherwise how does one make a profit? In real estate there is a companion principal that states, "You make money when you buy (enter into) the investment, not when you sell (exit from) the investment. In the recent past the ravinous feeding-frenzy has created a temporary euphoric principal of "buy high & sell higher". Timing is everthing and this scenario is more typical of the stock market than the real estate market. There are a few skilled at this type of investment strategy. This can only ba short term strategy. What is the long term strategy? I like something that makes sense regardless of the market conditions. The only difference is when to consider taking the profit. Will it be a short term or long term investment and what happens if I hold? Can I afford to hold? If I can't , should I have been in the investment in the first place? Just a thought!! "Been there, done that". There are some benefits of age and experience if you take advantage of them. Have you ever wondered why some millionaires got there without a degree in economics or finance from an Ivy League School? Well, duh! By the way my views did not come from vicarious observations alone. I've made my own mistakesand have had some of my own successes! I'd love to hear from you. Generations X,Y, Z, no matter.
La Entrada Realty - Albuquerque, NM
Qualifying Broker, SRES, EMS
Anonymous
Tony,
Thanks for the insight on what "building and preserving wealth through real estate" can do for me and my family.
In regards to planning for college. How can Real Estate and I work together to help get a grasp on the rising costs of higher education.
Currently no children. But, would love to have some one day
Nov 14, 2006 02:27 PM
#2
Anonymous
This sounds like a "Long Term" question for you and I will address it. But first I'd like to address a Short Term approach for those readers who are facing this issue now or soon. Have you heard of the term Kiddie Condo? Simply, it is the concept of purchasing a property during the college years for your student to live in and even share with other students. After a typical minimum of four years you have equity and property to show for instead of just dormitory or rent receipts, along with some potential tax beneifts. In the Long Term, equity in your own home or investment properties can fund College expenses while keeping up with inflation and increasing college costs.
Start NOW!!!
Nov 15, 2006 02:24 AM
#3
Rainer
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18,803
Tony Olmi
Qualifying Broker, SRES, EMS
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