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**Peterli** · 08-04-2007, 12:52 AM

yes its kinda cool.. my parents bought thier house 4 yrs ago, now it almost doubled in value. they essentially paid half price for a house. its still going up in value but not as fast as it was before.. damn it was crazy. i say they should sell thier house and buy a new one.. and keep doing it over and over.. soon they would be millionares living in some huge mansion.

Yeah, until the market cools off, they're having trouble making their mortgage payments, and their appraisals are going down. If you're going to earn your fortune in real-estate, it isn't going to be by riding bubbles until after they burst. I would suggest going about it by keeping their previous place, saving up another down-payment on a new one, and renting the first one out to cover the mortgage. Do that a few times, and you have a boatload of assets, rather than one giant one that could significantly fluctuate in value.

08-04-2007, 12:52 AM	#19
Peterli Join Date Oct 2005 Posts 458 Senior Member	yes its kinda cool.. my parents bought thier house 4 yrs ago, now it almost doubled in value. they essentially paid half price for a house. its still going up in value but not as fast as it was before.. damn it was crazy. i say they should sell thier house and buy a new one.. and keep doing it over and over.. soon they would be millionares living in some huge mansion. Yeah, until the market cools off, they're having trouble making their mortgage payments, and their appraisals are going down. If you're going to earn your fortune in real-estate, it isn't going to be by riding bubbles until after they burst. I would suggest going about it by keeping their previous place, saving up another down-payment on a new one, and renting the first one out to cover the mortgage. Do that a few times, and you have a boatload of assets, rather than one giant one that could significantly fluctuate in value.
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