Quote:
Originally Posted by Stu from NYC
Wow. If I was say 20 years younger would come to you for advise on investing in real estate. At my age not looking for long term investments.
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I view it as pure luck in a highly overheated market. Timing. I just put a similar property up for sale in another state, same brokers who specialize in this type of property nationwide. One of the potential buyers approached by the brokers was the same outfit that had just bought my property. Their response was they had way overpaid for PA and MD properties, mine being the MD one. They had expected to jack up the rents and did so but lost about half their tenants. They were just too optimistic. IMHO one makes his money when he buys right. I am under contract on the current one at a wonderful price, but nothing like what the other property sold for.