What real estate investment did you get lucky with? I’ll go first. Bought a home in 2019 for $550K with 20% down. The house is worth $1M now and generates a profit of $18K/year after all expenses. (This post turned into a demonstration for why you shouldn’t take investment advice from Blind 😀) #investments #realestate
1.8% return on $1m is terrible
18k on 200k is not bad + appreciation of $500k. Whats so terrible?
Nothing’s terrible, he can’t read.
Bought a townhome for 840k in East Bay. Sold it off for 1.4M With that money, bought a piece of land in India for 4Cr, its now valued at 8Cr Also bought a flat un India for 1.68 Cr, its almost 3.5Cr now
Amazing, I regret not buying land in India!
-200K house poor here
When did you buy?
-250k house poor, If I sell now, I'd have a loss of ~300k. But it's my primary residence so I am holding. I know in long term, it will still recover and at least break even.
Same but Bay Area. Probably 1.7 now. The only smart decision I made in my life!!
I’m sure you made other smart decisions, too. But this one sure sounds like a great one! 👏
Imagine if you and $500k in stock from 2019? Picky any blue chip. Microsoft, Apple, Meta, even Google or Amazon who did terribly recently. It’ll be a lot more than $1 million with $0 expenses and responsibility.
That’s a great idea. Tell me which stocks are going to quadruple over the next 5 years so I can invest in them 😀 Also, I did buy 500 NVDA and ~1000 AMD in 2016-2017.
Oh wow wayfair looks like you’ve cracked the investment code and everything you touch turns gold. Why waste time with us pleebs on blind? What’s the point of your post?
Yes
Report back when the house actually is sold for 1M. Rental usually drives down selling price b/c of lack of upkeep. Also, wouldn't trust the zillow estimate lol
Zillow is above $1M. House next door with smaller property sold for $1.05. Also, interesting assumption with “lack of upkeep”. I think we found the slumlord 😀 Share some real estate wins of your own! lol.
Lol am not a landlord, but in my area there were houses selling for 30% more than others which were rented out. Also you never know if their house has better features than yours lol, sq ft isnt everything But good luck, buying house before 2021 was definitely a good deal
Why wouldn’t you sell it though? You could get a much better return than $18k/year
My return is not just $18K/year. The growing equity + the asset’s appreciation are also part of the return. The tenant is effectively paying for that equity, as well as any renovations I decide to do. This makes sense because I have reason to think that the property is going to keep appreciating in value -the neighborhood is getting natural gas service next year, a couple of high profile grocery chains are opening in the area, the new homeowners in the area are almost exclusively younger high income people… etc. I have a lease until the end of 2026 (signed in 2022), there is very limited rental inventory in the area and the rent is going up by 5% per year. This has kept the rent at par with the market in the area. And finally, I like real estate because I can live in it if all else fails 😀
Makes sense! I’ve been wanting to do something similar but I’m hesitant to try managing an out of state rental, which a property management company can help with but would obviously eat into the margins
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