Here's the deal. MrsRiverOtter and I have a dilemma! We own a waterfront lot in the hottest area of the Nooga. Our dream has always been to live on the water. Here is our dilemma.
-We could literally more than double our money in the short span of 2 years by selling and 1031ing that into other investment property.
-We could sell the lot and use the money to pay cash for a non-waterfront house and have no monthly payment.
-We could build our "dream house" and sell it (maybe make even more money to invest with).
-We could build our "dream house" and live in it (making us no cash but have tons of equity).
I know there are lots of real estate types out there and we'd love to hear your opinions. :idea:
Here are some pics of the lot:
http://www.***boat.com/image_center/...G_1065-med.JPG
http://www.***boat.com/image_center/...G_1066-med.JPG
http://www.***boat.com/image_center/...G_1067-med.JPG
http://www.***boat.com/image_center/...G_1073-med.JPG