If you’d put in 2.25M in GameStop calls in June 2020 it would have been worth 15M by March 2021.
Okay but who has 2.25M to gamble around?
Also, slippage
Jun 2020 was like the lowest point of real estate in US in last 6 years. It's only 400k between June 2020 and jan 2021?
They panic sold it when society went into a lockdown - Covid was March 2020. Society didn’t give a shit about Covid in 2021-2022 and market rallied. Biased datapoint
What app/web is this? It even shows mortgage info
Is it really 400k lol, you're paying basically 5-10% each sale as closing costs anyway - plus you're paying interest which goes fuck all into the principal right?
That's not true. It's like 5% max commission and 1% transfer tax.
Alright let’s do some math: (selling price - buying price)*.95= 361,000. Interest paid: 2m*0.06/3= 90k. Opportunity cost= 250k * (spy close at March vs spy close in July)= 65k. Taxes: 2m *1.32% * 9/12= $19,800. So they made $126k in 9 months of some of the best real estate market conditions. Because of lack of data we can’t calculate rent costs, any hidden costs (like decorating/house updates/utilities) but I think above is a good representation of actual expenses. Great return but not sure of replicability.
What app is this data on, redfin? Zillow?
Whats the total investment on the house?
How can you see the mortgage info. What platform is this
How much principal have you paid on the house vs interest? How much of the house do you actually own at this moment? How much does the lender own? My guess is that you have paid off less than 80-100k in principal in the last three years, if you went with 20% downpayment. I don’t know what you are celebrating about Unless your home hits 1.1m above last selling rate, sit tight
Is that worth it? How much are they paying to agents/taxes/renovations?
You don't need to renovate in bay area. Even neglected homes are worth millions.
agent fee, lawyer fee, closing fee, mortgage, tax will eat up most of that profit