Friday, January 11, 2008

A simple lesson learned from land investments

My husband is always talking about how he would like to buy a house and include it in his future land investment. Basically we would buy a house and rent it out. I do agree that is a good idea if you have the money to invest but me and hubby are having different ideas on the benefit of it.

I have through my WAHM experience learned that you need to value your work and time and it is the same thing in this case. And my husband doesn't share the same view, in my opinion he underestimate the rent he could charge.

So I spoke to a friend of mine yesterday who actually rents a house and without telling me how much she pays I could understand that it was about three times more than my husband thinks he would get. I told him last might but he believes my friend is paying too much and that no one else will. I told him what my friend told me: You need to set the price and go no lower!

Meaning:
You set your price at $40 for something and decided that the lowest offer you will accept is $35 and no less.

And you will probably get it. If the person likes whatever it is you are offering they will buy it, be it $35 or $65.

A simple lesson learned from land investment :)

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