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      01-23-2020, 11:13 AM   #69
zx10guy
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Drives: 2013 135i
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Quote:
Originally Posted by bimmerfrk View Post
Then you should look at your 401k is the same light. Its worthless until its cash in your hand. I had a place 2 blocks from the ocean in long island that i bought right after sandy for 277k. Everyone including my parents said I'm stupid and will never make any money. Fast forward 4.5 years to last February i sold the place in one weekend for 425.

The key is know your market.... Even in 2008 houses never really went below what i have in positive equity. And every one in NYC and NYC boroughs are running to jersey to get away from long island taxes. Even people in Staten island which is part of NYC and has much lower taxes are running to my parts. I think my house at minimum will hold its value and in 15 years be closer to 1.2 - 1.5 mil. But then again wwIII. Who knows.
The difference is I can issue a sell order and the value of the funds/stocks are locked in on the day I sell. Not so when you put your house on the market. You may price it where you think it is valued and you may be right on. But then you have situations where a prospective buyer will haggle with you on price or you might have overpriced where no one is biting. Even when you come to an agreement on the price, you won't be able to get that cash out until settlement.
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Quote:
Originally Posted by Lups View Post
We might not be in an agreement on Trump, but I'll be the first penis chaser here to say I'll rather take it up in the ass than to argue with you on this.