I had a conversation with my new tenant yesterday. Seems like my friend/realtor found a really great person. I could have talked to her for a lot longer than either of us had time. She did mention how my next door neighbor sold her condo for $40,000 less than what I paid for mine just 2 years ago. We have nearly identical condos.
I know that I haven’t realized that gain, so the money isn’t lost. Plus the old lady next door had enough of the market and just wanted to get out. Truth be told, it’s about $20,000 less than any other condo has sold for. I’m not particularly worried about this development as I’m in it for the long haul. Part of me is just sad that I didn’t have the liquid assets to buy it and rent it out. It would not have been a cash flow positive, so it’s probably a good thing.