I sold out all of my land on short term cap gains and made some great money. I never built a home with the ...
I sold out all of my land on short term cap gains and made some great money. I never built a home with the builder because the land appreciated so fast that I didn't need to take the risk. I sold the larger parcel (20 acres) for a profit of $70,000 in one month! And I bought 100 acres in the same area for $367,000 which is now listed for sale at the long term capital gains rate (15%) of $779,000. I hope to sell it this summer.
My net worth went from under $300,000 to over $1,700,000 as one big huge gain, and I sold my personal residence (a condo) and bought a over a million dollar house.
I also used my contacts in real estate to join a financing company and am now the Executive Vice President of Commercial Lending for a boutique financing company in Beverly Hills. I have closed $26,000,000 in commercial loans to date and intent on closing with my business partner here, $100,000,000 in the next 12 months.
BTW-when I first started I had no job, no 'marketable skills', and for sure was hanging on by a thread in the old bank account. Blessings, let me know if I can do anything else for you.
I am a big huge fan of Prosper.
Los Angeles, CA
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