“In 2007 I sold my primary residence for a record high for the plan at $1.330m (paid $925k in 2004 plus added about $180k in improvements), sold a flip for $430k minus $10k for buyer credit (paid $305k five months prior as an REO, put about $55k into it, market time was only about 3 weeks and had 3 offers), bought new primary residence for $950k as an REO have about $75k in improvements and it’s worth a solid $1.2m. Oh, and this follows buying a condo for $565k in 2003 and selling it in 2004 for $835k with only about $15k in improvements. It’s about time to buy again!
I’d like to see where all of these naysayers are in 1-3 years time who’ve lost sight of real estate as a long-term investment.”
flipping a property in a year’s time is a “long-term investment”?
