Sunday, June 21, 2020

Real Estate Investing

A few years ago my husband and I first began, tentatively, to look for investment opportunities. Neither of us had ever really had any experience in that area, and we didn't even know where to start. My husband's father had quite a bit of success with investing. He offered us some advise, which we were extremely grateful for.

I wish that we had been more outright and asked him more. He has since passed on, making that impossible now. The wisdom he did impart us with was still incredibly helpful, though. In addition to helping us discover the best interest gaining savings accounts, like CDs, his biggest recommendation was real estate investment.

He had experience with it. He had taken affordable, less than desirable properties, and fixed them up, creating thriving business and attractive renting and sale prospects. He often rented out his own second home during the months they were in their primary home, and offered us so many tips on the best ways to go about that type of property renting.

We were actively looking for a place to do that type of thing a couple years ago, and then life got in the way, as it so often seems to do, and that had to take a backseat. Now, we are starting to revisit the idea real estate investment. More specifically, wholesaling real estate.

We have just discovered this type of real estate investing, and it seems really interesting, since there appears to be very little risk involved. It is also ideal because we would not be tasked with providing any of the repairs. I am excited to really dive into this, and use it as at least the starting point of our investment experience. Once we have really gotten the hang of it (and started to build up a nice little nest egg from the profits) we could move on to more complex, and costly ventures.


Ideally, the goal will be to eventually own a second property (or more than that) that we can rent out. For profit would be wonderful, but my father in law told us that it even if you rent it out at just enough to cover the mortgage and taxes, you are still coming out far ahead, since, in such a case, the renters are buying your property for you. Down the line, you will still own another property that you technically didn't have to pay for.

As I mentioned, we would like to do this at least once, so that, with the house we have now, and the other property, we would be able to have a home for each of our children. Though the ultimate goal is to acquire two additional homes, so that each child can have one when they are old enough, and we would still have our own home.

Being able to provide for our children in such a way is very import to us. My parents were not able to do that kind of thing, and I understand and adore them for everything they have done. Still, I want my children to have more. My husband feels the same. His parents were able to do more, and he wants to surpass that, still. Hopefully, in addition to whatever assets we can pass on to them, we also can install some useful knowledge, like my husband's father has done for us.

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