We had my first book signing for the 65th Octave on that trip. This was fun, but selling books through retail distribution is so different than the self publishing I have done for 20+ years! The lesson here is to always be willing to try new things. This expands our horizons and keeps us young.
Another lesson jolted me as I drove out of town. We sold our house there two years ago for a million plus. I felt pretty good about that, having the first house in the area to sell for seven figures. I was glad to get out too. I had wondered how long that market could stay that hot when the stock market crashed. As we drove back home I was thumbing through the Sunday paper and noticed that a neighbor near that old house was selling his place. His house was about half the size, on a much smaller lot, with far fewer old trees and further from the beach.
His asking price was 3.5 million! The old homestead must be worth five!
There are several lessons here. First for every seller, a buyer has a different view. I thought (from an investing point of view) that the buyer of that house had little appreciation potential. Maybe he does.
The second lesson. There is always a market for the best. Naples has become for the rich and famous. The stock market crash did not affect the wealthy consumers who are buying there.
The third lesson is to diversify. Thank goodness I invested in real estate in Naples other ways after I sold the house so I have still benefited! Plus the fourth lesson is there are more than one way to skin a cat. I have seen similar appreciation with our real estate here in Ashe County North Carolina for entirely different reasons.
Perhaps the fifth lesson is most important. Never look back. Would I have kept that house had I known the price would rise? We never know. We should each follow our own unique patterns of buying and selling. There’s a song, The Gambler. The lyrics say “Don’t go countin at the table. there’ll be time enough for countin when the playings done.”
This is so important. We are all immensely rich in a universe of infinite abundance. Our actions should be what make feel rich not poor. When they do we are diminished, unsettled, never quite fulfilled, always anxious.
One of the biggest mistakes I see investors make, is thinking, “If only”.
So here are two real estate investing suggestions for you to pursue.
Look at investing in mid range-homes in Naples Florida. I personally like houses in the $200,000 to $250,000 range. This is the low end of the market. There is a huge demand for them now. If the market drops there’s a good chance that top end buyers will drop their sights and make up for any loss of low end buyers.
Napes has some really great features, the warmest weather in the U.S. during winter, white sand beaches, over 40 gold courses, nature, fishing, the everglades and is a sophisticated cosmopolitan city with shopping – dining etc. at a five star level.
Naples was rated at the hottest housing market from 1996 to 1999. It was the fourth fastest growing metropolitan area in the US from 1990 to 1998.
Naples is third in top five metro house markets according to Kiplinger’s magazine.
Naples was rated as the best small place to live in the USA by Money magazine.
The number of visitors to Collier county in 1998 was 1,126,313.
So you might ask, why have I left Naples? First I like it here. Second I feel that recreational land opportunity here is equal or better (see https://garyascott.com/lostprovince/ North Carolina and Ecuador are now right for Merri and me as places to live. Naples had what we wanted tow decades ago. We are sleepy village types, not city folk. Yet I still have financial stakes in Naples.
There is a great contact for the Naples area below. Here is some more about the second opportunity here in Ashe County.
You can get all the reasons I like this area by going to https://garyascott.com/lostprovince/, but the main reason is that this area has been overlooked. Prices are much lower than just a few miles away.
Land in the next county can go from $10,000 ot $50,000 an acre. You can still find land here at $2,000 an are or less (though prices are rising fast now.
I hope to see you in Ecuador, Naples or here in North Carolina soon. Until then, good global investing!