Quote:
Originally posted by Alex from Montreal
First tell me were do you live, what's the value of your house, how much mortgage, real estate taxes, insurance and maintenance fees do you pay per year, the I'll be able to give a better answer. Btw, are the other houses in your neighbourhood also increasing by $100-150K per year? If yes, you are not exaclty making , more like you will be losing money when you'll sell it for another house....
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I have made a shitload of money over the years buying undervalued, well located property. I have also developed land sub-divisions and commercial property.
If you do not pay capital gains tax in your country on personal property purchase, it is plain stupid not to use it as a legitimate form of investment - as long as the purchases are prudent.
My best advice to a young person would be to purchase property as soon as they possibly can - instead of leasing fast cars and pissing their money up against the wall entertaining themselves.