THERE IS A WAY (real estate theme)

By
Real Estate Broker/Owner with people first...then business Ran Right Realty 636943 licensed to thrill

I became aware of what I am about to share decades ago and went through the pros and cons of it all. However even without math the concept holds its own. It has been done, is being done and will continue because it makes sense and it appeals to a certain group of people with this mindset. Remember: There are many strategies to employ in Real Estate. Find yours and reap the rewards!

THE CONCEPT REVEALED

I know you have seen this: a mom and pop shop either retail or product oriented that allows for the owner to live above, below or in the back of the very operation. To the ones that practice this it is found money and a dream come true. It has so many pluses for the right people and it works without fail to make you money

LETS EXPLORE IT

The obvious first. When you combine a business with living quarters you automatically save money. Its just that simple. Then, you are able to devote quality and if necessary long hours to help your business grow. Furthermore, you make more profit because of less expense & easy longer hours. The cash adds up real nice

EXAMPLES

A friend of mine bought a 7-11 franchise and wanted it to succeed. This operation is open 24-7 which comes at a cost. His wife and him were to run it using the concept described here. They had living quarters in the back complete with kitchen. He would sleep while she worked and she would sleep while he worked

IF IT GOT BUSY

A buzzer or yell would produce extra help right away. Meanwhile, the store established itself, made money, ran efficiently and it wasn't long before they hired help and soon after that they both worked less hours but supervised instead. It took time but it all paid off. they bought a beautiful home and all the other perks too

NOTE: When he wanted to take some courses, I filled in for him and slept in the back during some nights

ATTORNEY & DOCTORS & CPA'S

Many professionals look for special zoning properties that are residential and commercial allowed. Either the doctor, cpa or lawyer buys it and uses the front offices and areas as the business part while they live in the back or rear. Time goes by, equity builds, money is made and when it comes time to sell...bonus bucks for this operation that has been proved

NOT UNCOMMON DURING HARD TIMES

I worked for a guy who went through two world wars and a depression who started out as a pharmacist working for others. He quickly assessed how he could get his own place but at a cost. First, to find a place where he could live and work and second he was one of the first to open 24 hours 7 days back then

THE RESULT FROM THIS THINKING?

He raised a family of three, ran the business with his wife, worked long hours and found out that people like a place that was open all the time plus he learned how to establish a customer service base. He enlarged the concept by adding a soda fountain, perfumes and other retail items making it a one-stop shop. Read-on...

HE MADE A FORTUNE QUICKLY

He then looked into how to invest his monies and had a friend introduce him to loaning money out secured by Real Estate. He not only made money on his money via interest paid on loan amounts but also foreclosed and took back property as part of it all. Fast forward: He owned Real Estate with income. He ended up being a multi-millionaire

INCOME PROPERTY PRINCIPAL

This one is lucrative if one doesn't mind the inconvenience at start-up. The back-end pays off richly. It goes like this: you buy a two or three or four-plex and you live in one and rent out the others. Yes, you lose some privacy, have to keep the property up and deal with tenants and maintenance. Years later this is what happens

STEADY INCOME GALORE

You reach the point where you can move into something else perhaps a home or a condo and rent your unit out and not only does the original property pay for itself but in time will pay for you other home too. After a 20-30 year period or less, you own it out right, and the income is substantial. You are retired at 50 or 60...

SACRIFICE PAYS OFF

All the examples listed in this post have one thing in common and that is sacrifice by the ones who took the risk. They went without, put up with inconveniences, put their dreams on hold, stayed consistent and in the end paid themselves richly for all they did and went through. The American dream is no myth. It's up to you

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Topic:
Real Estate Industry
Tags:
investment
retirement
equity
appreciation
expenses
american dream
income property
startup
trust deeds
entrepreneurs
starting a business
making a living
mom and pop
comfortable living
sacrifces

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Rainmaker
3,509,108
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Richie - it's all about making it happen.  Incentive indeed.  

Jan 17, 2020 10:58 AM #1
Rainmaker
2,054,486
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

That was the way my great grandparents did it when they emigrated from Germany to Philadelphia in the 1880's.

Jan 17, 2020 11:19 AM #2
Rainmaker
992,086
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

As always... great advice

Jan 17, 2020 11:29 AM #3
Rainmaker
2,514,527
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Michael Jacobs ...as simple as you say

Hello Grant Schneider ...foreigners just leap on this concept naturally

Hi there Beth and Richard Witt ...one of my pleasures thank you

Jan 17, 2020 11:59 AM #4
Rainmaker
3,065,555
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Richie.

All it takes is a plan, implementing that plan to make it happen.  

Jan 18, 2020 12:54 AM #5
Rainmaker
2,514,527
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hello James Dray ...it is as simple as you say...putting legs on a plan

Jan 18, 2020 07:10 AM #6
Rainmaker
2,814,009
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Sometimes, there are at least five ways to do something. Do you know what I mean?

Jan 23, 2020 02:51 PM #9
Rainmaker
2,514,527
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Yes Laura Cerrano ...I know what you mean

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Richie Alan Naggar

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