tgoop.com/r_Bitcoin/63049
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About to dump my real estate "investment" to BTC
Eight years ago, I fell for the popular advice: “Real estate is the best investment,” “prices only go up,” “it’s a hedge against inflation.” So I bought an apartment. I bought it at a 20% discount below market value because I got it from a grand parent. He told me to look the cheapest in the area and discount 20% off and that would be the price. What a slam dunk, right?
Five years in, I tried to sell. My realtor told me to leave it empty because “rented homes take longer to sell.” So I left it vacant. A full year. No rent. Just sitting there. Eventually, frustrated, I rented it out again for two more years.
Fast forward to now: I just sold it. And to my luck (again) I sold it for more than what new properties in the area are going for, even though this apartment is 13 years old. It was even above what my agent said I could ever get. So I bought at the lowest price possible, and I sold at the highest price possible.
I did my numbers and still I lost money.
How?
1. Appreciation was a myth. The so-called “gain” barely beat inflation, and certainly didn’t compensate for the time, risk, or more importantly opportunity cost.
2. Vacancy and maintenance wasn't hell but hurt my returns. I lost rental income for a year, because market wasn't active when I wanted to sell. paid fees, taxes to buy, taxes to keep and taxes to sell.
Now here’s where Bitcoin comes in.
I have been buying Btc since 2017. Haven't sold any. But have invested peanuts Compared to this apparment. With btc, I don’t deal with broken pipes or flaky tenants. I don’t need a real estate agent to “convince” someone to overpay.
With Bitcoin, I own it. It’s mine. It’s liquid. It’s borderless. It doesn’t age, it doesn’t rot, and I can send it in a second to anyone in the world. And despite the volatility, I’ve never lost sleep over it the way I have over real estate.
I’m 35 now, and feel like I lost 8 years of financial race in this stupid play.
I learned this lesson the hard way, but I share it in case someone else is being told the same myths I was when younger. Real estate is not always the safe bet they make it out to be. And for me, Bitcoin makes a hell of a lot more sense.
I will now dump all the proceeds to multiply my stats, even at the all time high. And will surely sleep like a baby tonight
https://redd.it/1kx2n01
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tgoop.com/r_Bitcoin/63049