Originally Posted by will76

LOL if you buy a house for pure appreciation then you are a HUGE idiot. You appeared to be smarter as a dumb fool who blew money on a second home because you like to have toys and bling bling. Now you are telling me that buying a house for pure appreciation is a wise thing to do, lol. that just makes you look more stupid. If you buy a house and let it sit instead of putting renters in it, you are a fool.

I'll give you a little free education. You can buy "fixer uppers", do some renovations and flip them and you can let it appreciate while you work on it. You can also buy rental property, which will you make money from renters while it appreciates and then you can sell it later when your tenants move out or their lease comes up. If anyone out there buys a house for pure appreciation potential, and then just let the house sit there, they will be getting burned in the near future. They are fools. Appreciation is not guranteed. A lot of people will lose big doing this if the market levels off or even takes a drop. Fools like you I assume since you think this is a smart thing to do.

A little more free education for you. 2 ways you can buy that second property, you can pay cash or finance it. If you finance it you will be paying interest of about 6% plus taxes, insurance, upkeep. All of that will add up to about 10% expenses. So your house will need to appreciate 10% each year just for you to break even. Some people had houses appreciate that high over the last couple years, but since everything is soo high now and the market is starting to level off (and may drop) you are not likely to see an appreciation rate of 10%+ for a long time. Infact there is a pretty decent chance that your property value might even go down in the next couple years. If you paid cash, you should still be making 10% off of your money, either way you are a retard, and I will still try to educate you.

FYI, I live about 60ft above sea level, not in a swamp moron.

keep trying....