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Originally Posted by TiltonBB
Thank you Descant. I remember that now (with your help) but the comment didn't make it click.
I wonder what happened with that? At that time the Mayor said he and his wife purchased the Governors Island home in conjunction with his wife’s new career in real estate investment. Seems fishy.
That was in November. Do they still own the home? How many other houses has his wife purchased or sold in conjunction with her new career in real estate investment?
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I think if you buy one GI house for, say $2mm, and within a year, sell it for $3.mm, that's a career. You don't have to do any more for a couple of years to put "successful RE Career" on your resume. I recall a guy doing that on GI in the 80's. Bought, lived in, sold a bunch of houses. Took the $$ and went to someplace in the Caribbean for awhile, then moved back (when he needed more money?). Who says you can't "time the market?"