No this is not just another article about investing in real estate. This is a story of an accidental real estate investor who became an “investor’s accomplice”. My first purchase was a single family house for my own residence. I had roommates who helped pay the mortgage and it was a successful venture. That house became a rental property when I married and it eventually sold for twice the purchase price. I learned to be a landlord with that first house.
My husband was the “real “, real estate investor and I was an “accomplice”As a real estate broker, I found properties for him to buy. He had a real knack for buying, fixing, maintaining, and holding investment properties. I watched as he bought single family homes or small apartment buildings and “added value”. The value added piece is way over used but it really can be done.
What sort of properties did we buy? We bought properties with solid systems that needed a face lift. We always bought based on location. Properties without curb appeal got new landscaping and a fresh look for the front porch. We bought houses with cottages. We bought houses in areas zoned for office and switched their use. We also bought raw land and held it.
I still have a few rental units and am very pleased to have the Montague Miller Property Management Division handle everything for me. A professional property manager follows the rental market, knows how to offer the property at market rent, and will find a great tenant for you.