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Buy an Intown Atlanta or Decatur house, then buy another

This is a transformational idea for some of you. A large percentage of North Americans already own a primary and a secondary residence. If your money is right, why not?

If you don’t like your current residence right now, then start there, of course, but consider the simplicity of this idea just by reading the opening dialogue of this well-written article at the always formidable, The Daily Reckoning website:

“…But the investment seasons turn. Today some smart investors are once again saying you should a buy house. John Paulson is one of them.

You may know him as the man who turned the greatest trade of all time. Betting against the housing market, he netted a cool billion dollars for himself in 2007. One fund he managed rose 590% that year. Today, he is one of the richest men in America.

His advice today is very different. “If you don’t own a home, buy one,” Paulson said. “If you own one home, buy another one, and if you own two homes, buy a third and lend your relatives the money to buy a home.”

That’s a strong endorsement. It sounds similar to the advice another investor gave his audience in 1971, at the dawn of one of America’s biggest housing bull markets. The investor was Adam Smith (George Goodman) on The Dick Cavett Show. Here is a snippet from that conversation:

Smith: The best investment you can make is a house. That one is easy.

Cavett: A house? We were talking about the stock market. Investments…

Smith: You asked me the best investment. There are always individual stocks that will go up more, but you don’t want to give tips on a television show. For most people, the best investment is a house.

Cavett: I already own a house. Now what?

Smith: Buy another one

I wrote an article in December 2009 about the 4 best places for real estate investments in 2010 (another one of these where the content is based on a nifty Daily Reckoning article. Click on it – it’s worth reading again because the international destinations would make awesome second homes!

However, consider Intown Atlanta or Decatur and think about where a nearby second home makes sense – a place within one hour of Intown – here are 4 interesting choices:

1. a condo at White Provision

2. a cute little house in Madison or Dahlonega

3. a lake front property at Pine Lake, Norris Lake or Berkeley Lake

4. a townhouse at Reynolds Plantation

I have a license to help folks buy and sell real estate in Georgia. I’ve been in active practice since April 2004. I’m never too busy for an Intown Insider referral, so please let me know if I can answer a question for you, or arrange an appointment.

I’ll drive to Valdosta to sell you property, well probably not Valdosta, but I got people in Valdosta. Holler at me!

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