I never thought I would love real estate as much as I'm loving it right now. I've gone cross eyed at times from reading tons of paperwork that seems like Chinese to me, but it's still exciting and fun most of the time. I just never thought I'd ever feel this way about this industry.
My first exposure to residual income and business in general was through networkmarketing in June of 2004 (a tremendous blessing and an incredible education that is) but that was all. I thought that I would just do my home based business and write my songs and that would be that. I never thought I would love this industry the way I do.
Well amigos, if you haven't guessed it yet: I'm a brand spanking new Real Estate Investor. I'm soooo excited!!!
I love this! You may be wondering how I came a across my newfound love. Well here's the story:
A friend of mine had this house she had inherited from her mother when she died. My friend had her ex-husband and her kids live in the upstairs and she lived in the basement with her brother. Well, her ex moved out and though they had tried to rent the upstairs they hadn't been able to find anyone. Soon it was almost a year and the house was still empty. During this time my friend left her job and had to go to Hong Kong to be with her daughter. While talking to her over the phone one day and talking about her situation and how the bills kept piling up I decided to help her. I formulated a plan to fill her house and help her get some cashflow. I invested a couple thousand dollars (which I got back) and put some adds and furnished her upstairs. I was surprised at how much fun I was having. Though there were some times where I was a little scared because we found in the process that her property tax hadn't been paid for years (thanks to her ex who was supossed to pay it and didn't) and she was about to loose the house. I did a lot of praying and just at the last minute, in about two months time, we got the upstairs full of happy flight attendants who were eager to live there. She now has an income of $2,000 a month after all the bills are paid.
You may think "Well it must be a big house" no my friends, it is only a small three bedroom. I just got a little creative and decided to turn the upstairs into a home for airline employees marketing to them specifically. I rented the rooms separately and turned the living room into another room. Everyone is happy, we saved the house, and if she doesn't find a job she's ok!
After that project was done I was left feeling bored and kind of like an addict, I mean I wanted that high! No I don't do drugs guys, you know what I mean. I wanted to feel that adrenaline rush I felt while doing that project with my friend's house. I wanted to do it all over again and do it even better!
And this is how it all started. My Real Estate adventures have only just begun! Now I'm looking to buy my first property in the next two months (a coop) and I'm also looking at a short sale for a house. I find this time to be the best time to help people get what they want, whether it's buying, selling, or saving a house. Though some say it's the worse time ever: It's all a matter of perception. If you think it's the worse it's the worse, if you think it's the best it's the best.
I think I can.
Carolina.
It is true that this market has its adventures and its ups and downs.
I have seen this 3 times before.
All the best.
Bill