how to spend housing bubble money

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Submitted by sd gal on January 20, 2008 - 10:39pm

I cashed out in May 2005 selling my 2b/2b condo I bought in 1999. I kept almost all the profit in CD until last year which was roughly $240k.

I felt like I should start using them. So I bought a 4 prex in TX. I got them for a lot cheaper than market value as I knew some people there. I remodeled 3 out of 4 units and rented out.

It turned out being a landlord for 4 tenents is a nightmere. At least one unit forget to pay rent each month, something breaks down all the time.. and so on.... it was suppose to cash flow even before tax refund, but it didn't turn out to be that way...

I just want to know...what do you think about the housing market in TX? Austin to be exact... I am thinking to sell soon, just so I can get away from those horrible tenants and bad property management company....I am willing to bear some loss... since it is all bubble money..well, I did reserch quite bit to time best time to sell tho.

My questions are

how did you spend your bubble money?

If you know about housing market in TX, what is your prediction for 2008?

‹ Uh oh, this can't be good for any of us shopping for thrashed houses... ›
I moved to Chile, took half
Submitted by Pichilemu on January 21, 2008 - 7:26am.

I moved to Chile, took half the cash and bought a piece of land on a golf course and built a house. The other half went into CDs. Since day 1, 4 yrs ago, the dollar has been on a downward slide. It was a fun ride. Now it's too expensive to live abroad and I have to plan for m y re-entry point. So if someone can just let me know when the market hits bottom;)