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Originally Posted by AlxAmg It can play both ways.... My parents are far from rich, they visited Florida near Ft.Lauderdale area and really liked it, they decided to look into buying an apartment there for over 5 yrs. Finally they went for it, and picked up a 1 bedroom for $170K. Market took off (NO CONTROL BY THEM) and they profited about $70K in one year, realizing what happened they picked up another one as well but this time 2 bedroom, similar location for $220K. That one is also worth about $280K currently and they can get that price for it in two minutes flat...
They got lucky and on the first purchase and took a risk on the second. Not looking for investment. So i would say they were LUCKY. And they didnt get the second aprtment for investment either, they just decided to upgrade because the money they made on the first apt. |
Nice to hear about the luck your parents have had. It's good when something works, whether it be property or an IPO that happens to work out very well for you, or some other investment. Florida has certainly been one of the great places to be and profit from real estate in recent years.