No. of Recommendations: 0
Personally, I bought a condo in downtown Boston ...

There is a reason why "Location, location, location" is so critical. Boston is physically constrained wrt real estate development, making existing properties a high demand low supply investment. But Boston too has it's ups and downs. My brother bought a fixer-upper walk to T in Cambridge that required about a decade of rising property values before he would break even between initial and improvement investments. Another decade saw his property values triple when he sold for a tidy profit. In the recent housing crisis people lost sight of the need for seasoning of the property over time. It's not a good sign when there are multiple shows on TV about flipping a home, and every gathering you go to has people discussing the big money to be made in real estate.

Supply constraint/high demand is one criteria I look for in buying a property. If it is not there, I would rather rent.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.