Originally posted by @Matt R.:
Nice timing Kevin. So that's in close form to $7000 a month delayed cash flow from one rental. Sounds like a home run however you want slice it. We could be 12 to 36 months from some kind of correction but it will be interesting to see if that 350ker ends up at 450k and how much it corrects when all is said and done.
Matt, I thought about holding off for a few months because I wouldn't be surprised if it is $450K like you say by Summer. But I thought I should just take my gains now and not look back.
I remember I bought some stock years go for $18K. Within a few months I sold it for $32K. Of course 4 days later I could have sold it for $36K. A friend of mine was greedy and stayed in thinking it would go up even more. In the end the stock became worthless and he wound up with nothing.
Another friend had about $400K in stock. It went up to 2.5 million within a few years. He sat because he thought he could get to 5 million. Today it is worth about $270K
I guess the lesson is you really need to decide how much money you want to make and how much risk you will take.
I d think we are going to see a leveling off after this summer, maybe step back. But then again what do I know. I thought this house would only go up 5% a year. I was okay with that because I paid cash for it and was getting an 11% return. But when it doubled the return was now only 5% so I decided to sell and but elsewhere.
