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How to Make 54% on Your Money in One Year

How to Make 54% on Your Money in One Year

2011-10-27


My friend Peter spent his career as a self-employed entrepreneur. He and his wife owned a business that installed above-ground pools on Long Island. It was hard work. So when Peter turned fifty-two, they were happy to relocate to South Florida.
 
That was in 2003. The housing boom was just taking off. To earn extra money, Peter bought and sold single-family houses. I was his partner in most of those acquisitions.
 
Four years later, prices had skyrocketed.  I pulled my money out of the market. Peter managed to buy and sell in 2007, just before the market tanked. After that, he wasn’t sure what to do. His part-time property-trading business was behind him. So he spent the next two years managing my Florida properties. The money he earned was okay, but he wanted to get back into the six-figure world he enjoyed during his first five years in Florida.
 
Three years later, I told him I was ready to invest in real estate again. Home prices were way down in South Florida. Where we live, for example, you can buy a renovated three-bedroom, two-bath house in a working-class neighborhood for $90,000. In 2007, when we got out, that same house would have cost you at least $200,000.
 
But when I decided to get back into real estate, I decided to do something different this time around....

 





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