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Old 06-29-2010, 09:43 AM   #22
Mink Islander
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Doubling your money in 10 years is a CAGR of 7.2%. Expecting value to increase at a rate much higher than inflation indefinitely is a bold assumption. Not saying it couldn't happen, but you're making a significant bet that demand for condo slips will continue to grow strong enough to drive prices significantly higher in real terms over a 10 year time horizon. Back to one of my original points that your views on slip ownership will be highly influenced by your views on expected appreciation in value and your assessment of opportunity cost (what else could I do with the money).

And the interest is a federal tax deduction so your after tax rate is lower, but it's not zero.

If you have a condo slip your storage is included in the condo fee? You didn't assume any storage costs if you own a slip? Just curious.
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