Loading ...In 1987, 34 years ago, I was offered a water front house for $200k, but if you invested $200k in a bond or bank CD for 34 years at 6%/yr equals $1,450,000 today. Highest prices in the same neighborhood today, are $800-$850K, so they didn’t really go up in value. And you have to see what PERFECT condition they are in. Plus deduct interest taxes and maintained.
They really spent tons of money detailing these places to ask or get top dollar. Some people with lots of unreported untaxed cash, pay contractors in cash, then when they sell, the $400k house, for $800k that $400,000 of cash gets laundered with an $800k check from a bank.
Everything is a trick, optical illusion. Unless you do your homework. Real estate, a house, like a car, is a consumer product, unless you have many apartments to rent out and positive money flow.
Save handy link:
https://www.dollartimes.com/savings/200