Thread: Investing 102
View Single Post
  #1598  
Old 06-08-2012, 09:09 PM
96z28ss's Avatar
96z28ss 96z28ss is offline
Senior Member
 
Join Date: Apr 2005
Location: Portland,OR
Posts: 2,024
Thanks: 18
Thanked 10 Times in 6 Posts
Default

Well I sold 2 house in an up market. Both I lived in for over 2 years which is tax free profit. no capital gains tax.
I bought in 1998 for $130k in 2004 sold it for $305k, in 2005 bought a house for $234k sold it in 2007 for $325k.
2 things I did wrong were from 2004 to 2007 was to not invest the money I had made and invest it. It sat in a saving account. 2nd mistake, In 2007 I bought a house that I was planing to do the same thing and dump it in 2 years. Took most of all the profits and put it down on the house, to keep the mortgage payment low. Economy stuck it to me good. Got to stay in this house longer than I thought, or just move on and buy cheap, start over.
__________________
1969 Camaro LS2/T56 D1SC
www.automotivedesigneng.com
Special thanks to: DPE Wheel / Columbia Parts Company / US Collision / T. Bruning

Last edited by 96z28ss; 06-08-2012 at 09:12 PM.
Reply With Quote