Logan Martin Lake Topics: Cash on cash
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Name:
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HTMLman
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Subject:
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Cash on cash
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Date:
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6/19/2006 9:14:46 AM
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A bubble is somehing that may pop. Ever time copper hit $1.20 per pound, the mines would pay overtime and the price would go down with the increasted supply. Copper hit $3.50 latley. The mines can only produce so much. Now, it may pop.
Same for Lake Martin. This is not some place like Florida where you can always develope the next farm field. APC and Russell will not flood the market.
Florida condos went from $20,000 in 1971 to $60,000 in 1981. Then tax changes put thousands on market in 1987. I got a nice one in 1999 for 40,000.
My Aunt bought a condo in year 2000 for $2000 down. Never mind what she paid. It is not important. Her monthly payments were like rent payments. She sold last year, paid mortgage amd walked away with $80,000. THAT is what is important.
It is called "cash on cash" return. Her condo went up "only" 3x, but her $2000 went up 40x. Her condo in CA would be ~$250,000 at least.
A long way to for the bubble.
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