Opportunity or Not!

dlimb2 · April 29, 2007 3:16PM

I am thinking of Selling my coin collection for the opportunity to buy a piece of property which was kinda frequinted by Abe Lincoln....It is or once was a building owned by the Illinois Watch Company. Someone has now converted it into a duplex appartment building....I am pondering on buying this building....any thoughts!

rec78 · April 29, 2007 3:30PM

You must have a very valuable collection!

dlimb2 · April 29, 2007 3:53PM

It is kinda large thanks to the US mint last year.

Coxe · April 29, 2007 3:57PM

Which has more potential for you? Is the risk to reward and time horizon for a decent total return markedly better for one over the other? Real estate may have some way to go down still. Depends on with whom you talk. Then again, special properties -- like special coins -- only come to market as opportuinities as you point out, and you cannot always consider the general market trends. If you are talkign about huge money, find an independent financial planner who is knowledgeable about both positions.

dlimb2 · April 29, 2007 4:23PM

Coxe, the coins can only go up so high in my lifetime....in about a year or two they will be at their potential(or about) I would rather hold off but like you say this opportunity only comes around once in a while...there are more details I need to find out about the property before I dive in....If I sell 90 percent of the coins from last year...I can just about pay for the property.

Coxe · April 29, 2007 4:27PM

Good luck in your endeavor if you do dive in. Have a contractor check out the property too as it sounds like a good bit of money.

I love watching people buy houses on TV and they NEVER check out the bones, by looking under the sink or checking out the basement or the circuit breaker box. But they adore the window treatments, color scheme, and kitchen appliances.

Boom · April 29, 2007 4:48PM

Very sage advice.

Good luck D.

Do what YOU think best!

Kimchee · April 29, 2007 7:39PM

"Other than that, Mrs. Lincoln, how was the show?"

curly · April 29, 2007 9:29PM

Brother, you only walk this way once, so do what gives you pleasure.

sbeverly · April 29, 2007 10:11PM

Generally speaking...Real Estate is downtrending.

Coins on the other hand, due to some degree are on the rise because of
the Bull Market in Precious metals we are in.

That alone would not influence my decision to do the deal.

I grew up in Lincoln land (Springfield). What property is it? -If you don't mind disclosing.

Good luck in whatever you decide.

dlimb2 · April 29, 2007 10:34PM

Yeah I am going to check it out, all out...It is a stone building ...sand stone I think, I live in Chicago and I have not been able to view it in person as I only located it yesterday....It is a remaining building from the Old Illinois Watch Factory...which was started by Abe Lincoln and his friends back in the late 1860's just after the Civil War...Those Watches today are worth a great deal of money as the Illinois Watch Company (Springfield Watch) sold to Hamilton because of their great designs...The Illinois Watch Company closed their doors in the early 1930's and moved to Hamiltons factory.

Someone has gone and modernized it...from what I see I like it...and it could be a money maker...I do not see how I could go wrong for the price...but I will find out all the details before I plunge....

Writersblock · April 29, 2007 11:13PM

<< <i>Someone has gone and modernized it...from what I see I like it...and it could be a money maker...I do not see how I could go wrong for the price...but I will find out all the details before I plunge.... >>

That is the only important consideration. Treat it like any other real estate investment. The history, (Illinois watch, Abe Lincoln etc) is nice but unlikely to make a significant positive return on investment.

dlimb2 · April 30, 2007 12:41AM

Found out more...it has been repo'd by the bank and is sellling for 1/3 its assessed value....hummm! Has new roof and furnaces....Agent is getting me some pictures....

Opportunity or Not!

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