290,000 % profit on house in 8 years (50p - £145 000)

[kellyhound]

IOL: 290 000 percent profit on house

London - A family who paid 50p (R7) for their house have sold it for £145 000 (about R2-million).

In 1999, Salik Uddin took advantage of a giveaway by his council in North Benwell, Newcastle.

Houses were offered for 50p because they were in a crime-riddled area.

Since then, crime has dropped by a third, according to a report in the British daily, The Sun.

Uddin said: "Our house was worth nothing. I can't believe what it costs now."

Lucky bastard

[RW1]

Real estate is the way to make cash.
My parents bought their home for $20,000.00 USD - and sold it for $130,000.00 USD. I bought my first home for $30,000.00 USD and sold it for $50,000.00 USD only 1 year later.

A friend of mine bought a home - got a second morgage and bought another home. Then he rented both homes for $200.00 USD MORE than the morgage was for each home, (making $400.00 a month after his payment.). He sold the first home after 2 years and made $40,000.00 USD profit ad sold the second home to the people who were renting it for a profit of $30,000.00. He now lives on 20 acres in the mountains - and owns 3 homes... 2 of which is being rented.