BoatPI
02-16-2005, 04:11 PM
Free u say. Yeah I use to be a go fast boat guy, all new toys, and I still have a few. So free boat, here is the story, and it should not be news to some of u.
Last year I decided to get into the RE duplex market in Long Beach. High rent, shortage of housing I fifured. So after four careful months of searching I found the place in West LB. Nice historical house on a very large lot. Two unit duplex. Paid $370K. .........Closed escrow in March. Put 22K into it, made the first floor very cool to the 1927 time period, new bathroom/kitchen tiles ,carpet etc.
Good tenants paid the expenses, mortgage.
FLASH NOW! Property is aorth at least 600K. I am upleging to a 4-plex. I'll have to wait a bit longer for that free boat.
But here is the free boat angle............
Say u sold it, made over 200K after expenses, in 11 MONTHS.
Take the tax hit, the worst one could imagine. So the way I figure it u are left with $119,000!!!
NOW pay CA$h for a decent DCB (119K).
Just a real estate related story on how to get a free boat.
Any other free DCB storys?
Last year I decided to get into the RE duplex market in Long Beach. High rent, shortage of housing I fifured. So after four careful months of searching I found the place in West LB. Nice historical house on a very large lot. Two unit duplex. Paid $370K. .........Closed escrow in March. Put 22K into it, made the first floor very cool to the 1927 time period, new bathroom/kitchen tiles ,carpet etc.
Good tenants paid the expenses, mortgage.
FLASH NOW! Property is aorth at least 600K. I am upleging to a 4-plex. I'll have to wait a bit longer for that free boat.
But here is the free boat angle............
Say u sold it, made over 200K after expenses, in 11 MONTHS.
Take the tax hit, the worst one could imagine. So the way I figure it u are left with $119,000!!!
NOW pay CA$h for a decent DCB (119K).
Just a real estate related story on how to get a free boat.
Any other free DCB storys?