shermo

I purchased after the market hit rock bottom in 2012. We purchased in an area with 5* schools (elementary, middle school and HS). We purchased a 4,000 sq. ft McMansion and at the time the production costs were even with the sale cost, more or less. The zip we are in has not doubled in price, but the community we purchased in has since 2012 due to the area growth. It's one of the top 10 growing communities in the nation. Homes bought in 2012 have that inflated equity, whereas a home purchased in 2014-2016 doesn't.

The reason that house in particular increased at that rate, was because of the size. Most homes in the area are 1800-2500 sq feet. That particular home was semi-unique, hence the accelerated increase. The typical growth rate in this zip since 2014-2016 is 14%. It's a great growth rate, but not an abnormal spike. I don't forsee the doubling of this market anytime soon, and it's currently just growing at a pretty normal rate.

Slapass: Sounds good! Looking to make another move on the market in a different area in the next 6 months.

ARock: That's the plan. After this tenant is out, we'll likely put the unit up for sale, collect the equity and reinvest to another property or 2, while also refinancing our primary to a 15 with bi-weekly payments.

Woj and ARock: Not diversifying and investing in the S&P as well as other investments would be a poor play. I take advantage as many tax deferment investments as possible. To take it a step further, I've invested in the art market as well, which has returned about 500% over the last 5 years. There's some work in that, but it has a level of enjoyment as well.

All bickering aside from everyone, it's great to see so many in this industry investing in the future. Back in the early 2000s, the large population of this industry believed that the money machine was everlasting and we all spent like crazy.