Comments on: Briny Breezes Owners Vote To Become Millionaires

By: Day 8: Briny Breezes and South Beach Heat - Blog Tour USA - Real Estate Bloggers Blog From New York To San Francisco

Thu, 12 Jul 2007 04:30:51 +0000

[…] Before we hit Miami, we decided to take a detour to visit the mobile millionaires of Briny Breezes. We drove through the rows of mobile homes looking for an interview. […]

By: Desert Investor

Desert Investor — Sat, 06 Jan 2007 21:47:53 +0000

News like this is really interesting. I would sell and use the money to buy some commerical real estate like an apartment complex.

By: sellsius°

sellsius° — Thu, 04 Jan 2007 19:02:28 +0000

Excellent advice Kevin.

By: Kevin Cahill

Kevin Cahill — Thu, 04 Jan 2007 18:03:56 +0000

I would seriously consider selling, with a 1031 tax exchange… these are mobile homes after all! Find another vacation property! Enjoy your smart investment!

By: sellsius°

sellsius° — Thu, 04 Jan 2007 17:00:11 +0000

ha nice catch andrew

By: Andrew

Andrew — Thu, 04 Jan 2007 16:56:35 +0000

$500 billion for 488 mobile homes? Wouldn’t that make each mobile home owner a billionaire? For a billion dollars, sure I’d cash out!!

By: sellsius°

sellsius° — Thu, 04 Jan 2007 16:53:37 +0000

If the vote passes, owners will have until 2009 to move. I guess it’s what you’d call a “make me move” vote.

By: Jeff Brown

Jeff Brown — Thu, 04 Jan 2007 16:32:18 +0000

Since I don’t know the market, I’ll assume they can, (after tax) purchase a home very close by for cash. If that’s available to them, then even though I might love it there, I’d vote to take the cash and leave. Also, the reality is that I’d very likely be outvoted anyway.

I find it interesting that a majority vote can find me looking for a new place to live.