Mr._johngalt
Thinks s/he gets paid by the post
- Joined
- Dec 3, 2002
- Messages
- 4,801
You all know about my temptations to resume active RE investing.
Probably a dozen or so near misses since I retired. If I wait 24 hours
the urge passes. But, it's in the genes and I am ALWAYS looking. Now I am going to take the plunge. I am bidding in a sealed
bid auction for some raw land near our home. I know the property
and I know the area. I already have a solid plan on how to remarket
it if I win the bidding. I told DW the key is to bid to give yourself a decent shot, but stay low enough so you won't get hurt no matter
what happens. IOW, even if I can't resell (a very doubtful outcome
IMHO) I would still be happy just holding the property. No
maintenance required and no insurance (just taxes). If I can't sell,
the kids will get it some day. Anyway, I am having fun with it and
not "betting the farm" on the deal. BTW, I have bought RE at auction
before and always made out.
JG
Probably a dozen or so near misses since I retired. If I wait 24 hours
the urge passes. But, it's in the genes and I am ALWAYS looking. Now I am going to take the plunge. I am bidding in a sealed
bid auction for some raw land near our home. I know the property
and I know the area. I already have a solid plan on how to remarket
it if I win the bidding. I told DW the key is to bid to give yourself a decent shot, but stay low enough so you won't get hurt no matter
what happens. IOW, even if I can't resell (a very doubtful outcome
IMHO) I would still be happy just holding the property. No
maintenance required and no insurance (just taxes). If I can't sell,
the kids will get it some day. Anyway, I am having fun with it and
not "betting the farm" on the deal. BTW, I have bought RE at auction
before and always made out.
JG