Re: What's REALLY working, now?

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Posted by Kristine-CA on November 04, 2009 at 20:28:33:

In Reply to: Re: What's REALLY working, now? posted by Natalie-VA on November 04, 2009 at 15:41:27:

Hi Natalie. I'm thinking that ideas about RE wealth strategies go deeper
than just numbers. I think it's about our background with money
(childhood lessons both good and bad)....and who we meet along the
way.

The wealthiest people I know in RE didn't buy and hold, so that's what I
know, or was inspired by. I've mentioned it before, but seeing how a
9M purchase turns into an 18M sale (in 6 months) with no rehab gets
you thinking. The added value on that one was buying as-is and
making the deal work for the sellers (taking it with some of it's staff,
etc.). It's not just buying right, it's also about where you add value. So
my inspiration comes from where I can value.

I know people my age who bought investments here in CA in the last
several years. They aren't seeing any cash flow (or much appreciation
these days) but they swear by what their parents or grand parents did:
hold for 30+ years. If you do the math on some of them, they will
never recoup the money. But....it's what they know.

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