Viva Las Vegas

[Tim's less well-read alter ego, Vinnie, takes over the keyboard this morning.]

This will be short, as we are off to Las Vegas.

We are going to see a friend who just got his real estate license. He says now is the time to invest in Las Vegas condos - they are hot! hot! hot!

So, we're going to do a little gambling (if you know what I mean).

The home equity line of credit for our California home was just bumped up, so downpayment cash won't be a problem. Our lender is so good - it was like they could read our minds - they called us and asked if we wanted to increase our credit line. It's hard to believe it's been a year since the last time we did this, but the good news is there's another $100K there for the taking - cha ching!

This will be our first time with investment property. We weren't sure this was a good idea, but now everyone seems to be doing it. Why not? It's much safer than stocks, and everyone needs a place to live. Plus, what's the point in having all that home equity just sitting there doing nothing. It should be put to work - otherwise it's just "dead money".

That's what the guy from the Citibank seminar said.

ooo

This was in the August issue of Money Magazine. I don't know what they're talking about, but my buddy in Vegas will be able to explain it to me.