OfflineMy wife and I are in our mid 70's, so we are not interested in getting into the Real Estate Investing BUSINESS.
However, since we are on Social Security we are looking into getting one or two properties to supplement our SS income.
Dean's books and this web site has given us great information on how to get to our goal.
We are currently looking into a property that has two small (520 sq ft) houses that are 97 years old.
They have been empty for 2+ years and my contractor estimates about $10,000 to re-hab both.
Have not gotten a price yet from owner but hope he just want's out.
Will find out tomorrow.
Good Luck to All.
John
Old Dust
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It is funny to see how many people try to compare to other people in determining what constitutes a "successful" investor.
If you guys get a couple of properties that supplement your retirement income and help you become more stable, that is a huge success in my book. I know investors that "ONLY" own ten properties, but they make a comfortable living off of that and they have the time and means to travel and take good care of their family. I would say that's much more successful than someone who buys 1000 properties but loses perspective on the important things in life...family, friends and relationships.
Great job! I'm glad you are giving people a different perspective of what success is!
John . I totally agree with the above post! Success isn’t measured by the number of properties you own, purchased or have rented. Success is a measurement we make based on our own needs and goals. Success is ours to measure according to our own ruler.
From the sounds of it, you are well on your way to success and giving yourselves the added boost to your income you are looking for. Keep up the good work! Continue on your chartered course, and be the success you want to be!
Congratulations!
Yes indeed. Family first.