I live in a state which has historically seen a lot of real estate appreciation / growth.
Will have a big payday in 6 months of about a million dollars.
There's a property I'm eyeing at the base of a canyon to popular ski resorts for roughly $1.5M… really incredible location, new build, great neighborhood, etc.
Further, real estate development / opportunities in the area are severely limited / scarce because of available land etc.
I could easily afford the payments on a say ~$600K home, but the question is, would this be stretching myself as that $1M down would be ~half my net worth.
Couple notes: Yes, the property may or likely will become unavailable in 6 months… I could also put $300k now and finance the $1.2M in the interim ($400K ann. salary outside of the $1M lump sum payday from a deal / transaction).
ASK: High level speaking, is it wise to do so… I just feel like rare real estate like this in very desirable spots especially so close proximity to ski resorts would be a strong investment.
Go for the big invest?
byu/Beautiful_Number_572 inrealestateinvesting
Posted by Beautiful_Number_572
2 Comments
How to make a million bucks in RE:
Start with 2 million and buy property on a hunch.
You’re taking hard-earned cash into unfamiliar territory. Do so with caution, guidance, a clean exit strategy and fully vetted and calculated risks.
Betting on appreciation is not an investment and really a foolish idea in the current environment. Low interest rates pumped appreciation for a decade, but rates aren’t low anymore. Stuff is *depreciating* in a lot of the country right now