What is the best strategy for real estate that I own in close proximity to potential Olympic events?
Posted on February 23rd, 2010 in Renting & Real Estate | 1 Comment »
I know this is extremely early, but I can’t stop thinking about it. I own a one bedroom condo in the epicenter of where the olympics would be (if they took place in Chicago in 2016). My place is downtown Chicago and within 1 mile to the majority of the potential venues for the events (with a great view and parking). Thinking ahead to 2016, I will most likely not be living at the place, but will keep it for investment purposes. So if the time comes (hopefully, when the time comes), what should I do with the property to capitalize on that great location? Lease (for a ridiculous amount of money)…. sell just before the olympics …. lease during the events, and sell afterwords (expecting the local area real estate value has greatly appreciated). Like I said, this is very premature … but it is fun to think about. take care.
One Response
Mar Vista Real Estate
I would consider the later of the options and Lease it for an ungodly amount of money. If I had the opportunity that you have with your condo; I would consider doing time-share with your location instead of selling. You could easily get 4 times the amount of money per year than leasing it.