To buy or to wait ?
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Quote:Agreed - I'm just asking Chandresh the nature of the 50K profit he made.
Originally posted by viggy
Isn't both different sides of the same coin? You can't sell without some one else buying....
Also, if u sell ur place, where do u live? By paying rent? If all are selling, won't the rent prices go up, making buying a better choice??
I'm assuming he made it by selling his primary residence (hence no tax implications), bought another house for less price and pocketed the 50K as net profit.
If you simply sell and buy at the same value, then you haven't made anything, but in fact lost the real estate and legal fees, plus moving expenses.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Quote:
Originally posted by pratickm
Agreed - I'm just asking Chandresh the nature of the 50K profit he made.
I'm assuming he made it by selling his primary residence (hence no tax implications), bought another house for less price and pocketed the 50K as net profit.
If you simply sell and buy at the same value, then you haven't made anything, but in fact lost the real estate and legal fees, plus moving expenses.
No, I bought and sold it within the same year. Infact one I sold within 15 days of my taking the possession, and the other one after 5 months!
I still live in my primary residence for last four years!
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Chandresh
Advice is free – lessons I charge for!!
And now I am seriously thinking of taking Trump's advice to buy some choice property in US to hold for say 2 years and make a profit.
According to him, this is the best time to buy in last 30-35 years by going to the banks and choosing what you want!
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Chandresh
Advice is free – lessons I charge for!!
This appear to be a good time to buy as down payment of many buyers have been just eroded due to falling housing market.
Please read the the link before deciding
Nobody Really Wants To Buy A House Right Now
http://www.cnbc.com/id/26972998
Cheers!
Location: God's own country
Posted on: 01-10-08 12:59:18
Quote:
Originally posted by chandresh
And now I am seriously thinking of taking Trump's advice to buy some choice property in US to hold for say 2 years and make a profit.
According to him, this is the best time to buy in last 30-35 years by going to the banks and choosing what you want!
Good Idea Chandresh!
As per this link
ttp://www.yourhome.ca/homes/article/509446 you can even find houses for $1.75 + $850 for taxes and Town's clean up charges. Even the labd must be worth more than $ 851.75 (US).I am sure that in 30-50 years, It will be more than 100,000 US$.
if Canadian residents can buy at border towns, then it will be very easy to check the properties from time to time in person.
I was also wondering if Detroit was a good option to buy?
Peace by TK
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I am a Gents and not a Ladies.
I agree with Chandresh that it's time to buy some RE in US and at this current US price ( in most cities) rent can cover mortgage/down payment interest/maintenance/taxes and still bring some +ve cash flow.
Detroit can be good option and biggest border city with Canada. Calgary sucks as no-one lives in Montana 
.
How about Canada? Right time to buy?
Quote:
Originally posted by chandresh
And now I am seriously thinking of taking Trump's advice to buy some choice property in US to hold for say 2 years and make a profit.
According to him, this is the best time to buy in last 30-35 years by going to the banks and choosing what you want!
Quote:So these were speculative properties?
Originally posted by chandresh
No, I bought and sold it within the same year. Infact one I sold within 15 days of my taking the possession, and the other one after 5 months!
I still live in my primary residence for last four years!
Do you mind sharing how you managed to get a higher price within a matter of 15 days (in one case) and 5 months in the other case?
Did you do any upgrades, enhancements, touch-ups, etc?
Yourself or contracted out?
Not quizzing you - just asking
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
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