We are less than a month away from listing our Brooklyn, New York condo, which we bought for $375,000 back in 2004, the same week we got married. 20 years, two kids, and one chocolate lab later, we are selling the condo for something close to $1 million and then flipping the profits into a new investment via a 1031 exchange. (New here? Catch up on the last few monthly missives!)
As a reminder, we haven’t made much cash on this property over the past 20 years. The growth has been all equity—and now’s the time to cash in!
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