Just show off all the houses I bought during the past 7 years.
This is the first one. I bought at 2001 for $267K and sold in 2005 for $527K. The best deal I have ever had.
The second one is the next door neighbor. Bought in 2002 for $265K. Market value was $500K at the peak time. Now come back to $350K or even less.
The third one is a townhouse. Bought in 2003 for $310K. The market value was over half a million. Now came down to $300K again. Great Roller-Coaster. The only good part is that I have a cash flow of $400 from this house. So, no complaint.
In 2004, I bought quite a few!
- Another townhouse. Bought for $370K. Peak Market value at $520K. Now $370K. Monthly EVEN. Not too bad.
- One other two bedroom two bath condo. Bought $290K. Sold in 2006 for $355K. Made around $50K. Great for me.
- Another 2BR 2BA Condo. Bought for $289K.
The current market value—
Sorry, only $200K. L
Monthly Cash Flow--- Very negative. One of the worst “investment”.
In 2005, Bought one condo right at the PEAK for $260. Now worth only $180. Plus hundreds of dollars negative cash flow. I would cry on this one.
In 2006, bought three condos. The prices haven’t come down too much as the contract was signed in 2004 and in good locations. The monthly cash flow is about even. Not good, not bad.
- This one bought for $260k. The current market value should be around $240k or so. The good thing is that it is very close to metro and easy to rent.
- This one bought for $248K. Now the builder is going to auction the rest starting at $155K. Mine!
- This one bought for $344K. Thanks! The price did not fall! But the monthly negative cash flow really kills me.
I did not buy anything in 2007. Good for me!
This year, I bought two and am going to buy the third one the next week.
- This one is a large single family house right beside the future metro station. I will sell the land to the developer at that time. Plus, $300 positive cash flow each month makes me pretty happy.
- Then, the best of best on cash flow! Bought for $75K, closing cost $6K, fixed for $5K. Rented for *************$1500*********
Believe or not. I love this one!
- Now comes the land I am going to buy the next Monday. This one will be flipped for some quick cash before I buy another rental property.
Black house or white house, if you can make money on it, it’s a good house!
