Yeah doing that with the condo. They were selling for 500k 2 years ago and I got one for 250k. Rents for $3500 during season and sits empty the rest of the time so not super excited on the rent side but really like the area so might end up there at some point.

condo market is a very risky buy down here right now.

There are soooo many on the market for sale and rent they are practically giving alot of them away just so the developers get somehting for them

where is the location?

So how many did you buy "

I would rather put my money in stocks right now instead of the real estate market. Stocks are under valued, wait a year, and then reinvest in the real estate market.

out side of Sarasota, Longboat Key. If you are in that area or know of some being given away let me know. :winkwink:

Seriously we are buying. Like I said I may look stupid in a year but will be ok in 5.

curious as to if others like this spot to buy...

well now meaning about 6-12 months...in real life :-)

The real estate market in the US is down, but not even close to as down as it will be.

The only safe bet in real estate investment is foreign. Panama, Dominican Republic, India, even some places in Mexico.

Everybody I know who's got $$ in real estate in Panama is raking it in and the boom has just begun.

Now or a few months is the question. I think now is just as safe cause prices won't go down much more

ahhh longboat I love it

My uncle built his dream house there on a canal

Great place to live

over 50 real estate investors! nice to see some serious buyers here :-)

Fitty one ;) Investments:thumbsup

Bastard ^^^^^^^^^^^^^^^^^^^^^^^^^^^^ ;)

Yeah, real estate always goes up

http://www.realestatedecline.com/Jap...ce%20Chart.jpg

Good luck buying land in Japan if you're not Japanese.

http://www.whenrealityknocks.com/wp-...ling_knife.gif

never catch a falling knife :winkwink:

well maybe not in Japan i guess....

I get several daily list from various sources and I've got my eye on a few things. Properties in my area are down 20-30% easily! Shit just isn't moving... it's gotta suck for sellers, but now is the time to buy :winkwink:

i would still buy houses now, but only houses that i can rent out and make at least $200 profit a month if i need to rent it.

at that rate i can have the whole house paid off in 10 years or so.

Whoa, that site kicks ass.

The house I am in now... Sitting the same price for about 1 year now...

A house about 40 miles away I have had my eye on, dropping like a rock. Lost 17% in 3 months....

Both houses are 5 bedrooms.. both 3300 sq feet... both with a large loft (poker room)... and the 40 miles away house has twice as much land....

I hate where I live.

You should start looking seriously. In 89-90 when things dropped then I was in the market and this stuff does not turn fast so you have tons of time but always better to buy after declines then to buy when things have had a big runup. And don't be nervous about bashing them lower. Take 12% or more off the asking and see what happens.

http://patrick.net/housing/crash.html


Pretty good read. He does make some valid points but does seem to leave out a lot of the tax benefits of owning investment properties

Yeahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh let's buyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy reallllllllllllllllllllllllllllllllllllllllllll estateeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.

http://abcnews.go.com/images/2020/ap..._070618_mn.jpg

Where abouts is this down 20-30%?

I would wait another 6 months, it's still sinking, I would rather miss the bottom than buy it and watch it sink even more...