From a 2008 posting on how to spend your bubble money (if you cashed out in ~2005):
[quote=sd gal]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?[/quote]
