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nvmbr9 · 01-23-2009, 03:13 PM

Thank you for welcome. Using a mortgage for high end properties is kinda crazy. Few would do that, in my opinion, because no one has that kind of cash flow on a monthly basis. That said, I think one of the reasons I got my price was the seller had a large amount of debt against the property, including a home equity line that was maxed out. You will soon know how many properties have that profile because they will soon be for sale, or foreclosed upon. Have no clue if it's a lot or a little, but I suspect the latter. I can't imagine living that way, nor could my wife. We couldn't enjoy it. My purchase arose from the sale of shares of my company at 45, and those shares are today 17. You can see therefore how happy I am to lose some money in a lake house, because the alternative would have been to not have sold the shares, and the money would be down way way more. Plus I get to use the lake house, which I love. In fact, I'm getting in my car right now to drive up there. I love it there in winter...almost better than summer. I grew up in Ohio with wide open spaces. The lake frozen is the widest most open space I've ever encountered. Plus the skiing is supposed to be great this weekend.

01-23-2009, 03:13 PM	#32
nvmbr9 Member Join Date: May 2008 Posts: 22 Thanks: 1 Thanked 2 Times in 1 Post	Thanks Thank you for welcome. Using a mortgage for high end properties is kinda crazy. Few would do that, in my opinion, because no one has that kind of cash flow on a monthly basis. That said, I think one of the reasons I got my price was the seller had a large amount of debt against the property, including a home equity line that was maxed out. You will soon know how many properties have that profile because they will soon be for sale, or foreclosed upon. Have no clue if it's a lot or a little, but I suspect the latter. I can't imagine living that way, nor could my wife. We couldn't enjoy it. My purchase arose from the sale of shares of my company at 45, and those shares are today 17. You can see therefore how happy I am to lose some money in a lake house, because the alternative would have been to not have sold the shares, and the money would be down way way more. Plus I get to use the lake house, which I love. In fact, I'm getting in my car right now to drive up there. I love it there in winter...almost better than summer. I grew up in Ohio with wide open spaces. The lake frozen is the widest most open space I've ever encountered. Plus the skiing is supposed to be great this weekend.