- Jun 13, 2005
Thanks, I appreciate that. My wife and I were watching the sunset over the Gulf a few weeks ago. It was unfortunately our last night there till the fall.
We were going over the rental revenue for the summer and it looks very good. I do not think you could buy an investment grade bond right now that would generate the after tax ROI this thing will throw off in the first year. I think it is working so well because renters want the same thing we wanted when we bought. Low floor, no elevator, easy parking, great view, and lots of room.
After going over the numbers my wife tried to talk me into buying another condo, this time as a pure investment. I talked her into another rum and coke instead.
I am not bullish on real estate by any means. And I would not touch the cookie cutter stuff. We did not buy this condo as an investment, it is primarily our second home. But you can make money in this market if you buy the right stuff at the right price. I think I did my homework and would not change a thing.
(1) What ROI did you arrive at?
(2) Have you two thought about AA?