Re: What should I do? - Posted by Frank Chin
Posted by Frank Chin on March 20, 2006 at 07:29:23:
Real estate is local.
I’m in NYC, and it’s been a high appreciation area for the last 20 or so years. Properties I picked up for 150K - 200K 20 years ago is worth over 800K today.
While I started with little or no cash flow, I would’ve lost out on the appreciation had I ONLY gone for cash flow.
Does it cash flow now after all these years. Sure does, but returns are low.
If you go to upstate NY, a 70K house can cash flow $700/month. You won’t get much appreciation.
The whole trick in RE is to learn what works best in your area.