Rick Steves: 'I just gave away a $4M apartment complex'

Discussion in 'Newsstand' started by uggboy, Apr 16, 2017.  |  Print Topic

  1. uggboy
    Original Member

    uggboy Gold Member

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    Rick Steves: 'I just gave away a $4M apartment complex'

    He's one of the rare good guys! :)

    Cheers & Safe Travels. :)
     
    tommy777 and HaveMilesWillTravel like this.
  2. satman40

    satman40 Gold Member

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    Rick lives out of a back pack, and wears the same Dockers for a week or two ...

    My guess is the YMCA had some major repairs, and a great tax write off, old building have an increased maintained cost factor, deprecation has been taken, and the property had not appreciated, and the city is always raising the taxes.

    .Smart Move, many landlords are faced with the same problems as they age.

    Non Profits pays no property taxes, over 60% of the property in many cities are owned by non profits,

    He does write some good books on travel.
     
  3. tommy777
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    tommy777 Co-founder

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    He bought the property for 2 mill and it's worth 4 now, so I would say it was appreciating pretty well ;)

    I really like Rick Steves, this guy just continues to earn my deepest respect.
     
  4. satman40

    satman40 Gold Member

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    Me 2,

    but till you you put the money in the pocket, that is what it you gained..regardless of the appraised or selling price..

    I have sold a few properties, paid commission, brought the property repairs past the buyers inspections, paid the real estate taxes, even paid part of the buyers loan expense.

    So what it is worth, is in the eye of the beholder,

    Properties are like a carrot in front of a horse, never seem to get it all done, always something breaking down,my grass just keeps needing Trimmed....:cool:
     

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