4thWardBoy Posted August 10, 2005 Share Posted August 10, 2005 My wife and I bought our loft(Urban Lofts) here in 4th Ward last year. We are in our mid 20s. I love the location, right in front of downtown. But we're going to need a house soon(2-3 yrs) and I really want to get out of debt so I was considering selling the loft next year, buying a lot in Eastwood and building our own custom home. I believe Eastwood would be a great investment, but I also know leaving the loft behind would also leave behind a good investment. Any advice? Should I lease the loft? I've seen what a lot of years can do to these metal urban lofts as well. They don't get any prettier. Thanks for your thoughts! Quote Link to comment Share on other sites More sharing options...
sevfiv Posted August 10, 2005 Share Posted August 10, 2005 are there many open lots in eastwood?if not, i wouldn't build, i would buy something that's already there... Quote Link to comment Share on other sites More sharing options...
RealtorGuy Posted August 10, 2005 Share Posted August 10, 2005 My wife and I bought our loft(Urban Lofts) here in 4th Ward last year. We are in our mid 20s. I love the location, right in front of downtown. But we're going to need a house soon(2-3 yrs) and I really want to get out of debt so I was considering selling the loft next year, buying a lot in Eastwood and building our own custom home. I believe Eastwood would be a great investment, but I also know leaving the loft behind would also leave behind a good investment. Any advice? Should I lease the loft? I've seen what a lot of years can do to these metal urban lofts as well. They don't get any prettier. Thanks for your thoughts!<{POST_SNAPBACK}>If you rent the loft you will run the risk of tenants not taking good care of the enterior as well as you would as an owner. Current market rents may not cover your entire "nut" and then the property could be a negative drain on cash flow. It may be more preferable to sell and buy. The Eastend is a ripe for redevelopment as witnessed the new Juliette Homes being built where the old Markle Steel Co. was. I know Perry is building in the area as well. I suggest buying a pre-existing home.Hope this helps. Quote Link to comment Share on other sites More sharing options...
4thWardBoy Posted August 10, 2005 Author Share Posted August 10, 2005 are there many open lots in eastwood?if not, i wouldn't build, i would buy something that's already there...<{POST_SNAPBACK}>no, there aren't many. a few. but there are some very old homes as well that may be past the point of fixing up. Quote Link to comment Share on other sites More sharing options...
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