I have made a momentous decision. I am selling the Poly contract that I just purchased. I started the purchase in January, but it was finalized in March. I bought 50 points (stripped contract) for $150/point. I am listing at $191/point and will make a profit of about $500 even considering all closing costs, commission and other fees. Who knew I was just investing my money rather than buying into the Poly? I didn’t! But right after I purchased both this contract and a fully-loaded OKW 50 point contract, I had to make major repairs to my sewer line. Getting some of that money back will be nice. And I am now considering a direct contract for OKW if I can get it. No rush on that though.
It was surprisingly hard to give it up, but I feel it’s the right decision. I did wonder if I should wait to see if prices go up higher, but that feels like tempting fate! Who knows, maybe I won’t get any nibbles on $191.
I was thinking about this - how it might be a good idea to buy a few contracts at the same time, then use one and sell the others if / when they appreciate. If the prices weren’t so insane right now I might consider it.
It’s super uncommon for it to appreciate with this rapidity. Sure if you bought in 1991 you’d make a killing now but overall it’s not a good investment.
I was starting to think my Poly contract was not going to sell, but this morning I got the news that it did! Yay! Now to decide for sure if I want to turn around and buy some OKW direct.
