There are a lot of people who have made small fortunes with good investing.
My next door neighbors built their home as a $1M vacation villa. They are Brit's, and will use it probably a total of eight weeks a year. He owns a business that's apparantly been very profitable. They have no mortgage on either of their homes, BTW. The people at the other end of my street own a ocean front condo in south Florida, and the house here. I'm not sure which they consider their "primary" residence, although I'm sure the condo is worth more than the $850K home (mortgage free) here. They seem to be in both pretty equally.
We have the smallest home in the neighborhood, and we purchased it just before home values went through the roof. Our home is now worth almost double what we paid for it three years ago. (We do have a mortgage unfortunately!)
In exchange for keeping an eye on the neighbors place, I get to use their pool when they aren't there, and it's a nice one! Fair trade, don't you think?
Yeah he ended up buying a one bedroom/one bath condo in a resort community for $699K. He looked at another one bedroom for $720K that was furnished and had a beatiful view (they all did). He looked at one single family home that was beautiful with three bedrooms and two baths for$850K but it was right above a major highway and a bit loud on the lanai....
In exchange for keeping an eye on the neighbors place, I get to use their pool when they aren't there, and it's a nice one! Fair trade, don't you think?
What about the "Castle House" in Southampton Village...the one with the pool they had to rip out 2 times beacuse of the sea water...and the house is Oceanfront with an indoor pool. I know construction started in the early 80's and took over 7 years to complete..(less sqfootage...but the ocean view in SHV put it over the top)
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