Saturday, May 5, 2012
Why Real Estate Investing?
We are in our mid 20's and do not have much real estate investing experience. At the same time, we have a passion for building wealth and recognize the opportunities, especially in todays real estate market. The extent of my experience begins from when I was young. As long as I can remember, I worked a couple days a week at one of my dads properties in the summer and sometimes on the weekends. I would paint, mow, and do other misc. tasks as I grew strong enough. I would get paid a small sum as my dad felt that my time working was important and he also wanted to teach me to budget the money that I did earn. Because of that, from every dollar that I earned, a good portion of it went to "savings." This savings could be for a future purchase of a car, house, engagement ring ect. With all of this being said, I still have very little experience with real estate. See my dad owned these properties and while I went with him to work on the houses, meet tenants, and witnessed him taking many weekend phone calls , I have found that it is a much different process when you are spending your own hard earned money on any investment. My wife has no experience with real estate investing, but I will promise you that she will be vital to our success. She is great with organization, decorating, communicating with people, and many other attributes that I lack in. We have been searching for a house to convert to a rental for a few months now. We closed on it last month. More on that in the next post! Happy Cinco De Mayo!