Quote:
Originally Posted by Newdaawn
Try to find a house in Walpole for under $350K - not possible. The house I grew up in - in that town - sold a couple years ago for a bit over that. It was small 2 bedroom with one bath. One good feature is that its on an acre of land.
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See I look at that and it just stops me.
$350k for a house is a lot.
My first Triplex was in Southern California and we bought it for $70k.
I have owned apartment buildings in Europe, on the Eastcoast, and twice on the Westcoast. Tri-plexes, quads, and five-plexes. So far I have never paid over $200k for a building.
We have been shopping for a property in the Bangor area. Tri-plexes, quads, fives and six-plexes. The most that we have considered paying has been $175k.
We went out yesterday and walked through four such properties in Bangor.
$300k for a single building that does not provide an income stream and tax-sheltering, is outside of my experience.
I do not understand why anyone would pay so much for a non-income earning, non-tax-write-off property.
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