There are so many rich-by-real estate fucks in NYC
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Date: April 23rd, 2018 11:11 AM Author: Bossy market sandwich
I made a thread about this once.
Imagine if your grandfather bought some pre-war 20 unit walkup building when NYC was a dump and property was cheap. If your family kept the building and operated it, and assuming you had no debt on it any more, that one building would generate like $450-500k per year in net income after expenses. Now imagine a family that had 2 or 3 of these buildings. There must be a bunch of families like this out there.
(http://www.autoadmit.com/thread.php?thread_id=3957215&forum_id=2#35899665) |
Date: April 23rd, 2018 2:31 PM Author: Hyperventilating regret
My folks bought two apartments in the late 80s, for 80,000 each. They're going for about 400,000 each now.
My dad wanted to buy a house for 300,000 in the early 00s, but got pressured out of it by other members of our family. It sold for 1.7 million, and the devil knows how much it's worth right now.
(http://www.autoadmit.com/thread.php?thread_id=3957215&forum_id=2#35901692) |
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