Yesterday, while showing one of the Motels I have for sale here in Las Vegas, I was talking to the Buyer/Investor about the Pandemic.
Our discussion centered around rental properties and how they make you money over time.
The Investor said he had given up on stocks via the Stock Market because they always lost money.
(I told him about my theory that the Stock Market is nothing more than legalize gambling. He thought about it for a second and agreed.)
Anyway, he sticks to just real estate now, because he said even though he doesn't make as much money as he thought when sells a real estate property; he said if he holds them for a while, and rents them out, when he does sell, he's never lost money.
He said the trick is to buy with as little of a loan as possible. Cash is better, of course!
Thus, I remarked that, that is what I have found. I own rental property and over time the value, rents and aggravation all grow, but in the end, I have always sold for more than I paid for them.
And, if you buy correctly, that limits your downside when selling.
That made me think of when I first entered real estate under Mike Sitren, way back in 1991.
We sold HUD OWNED Homes, originated the loans to financed the buyers purchase and made money both ways!
Now, almost 30 years on, I am just selling CRE and working the rental properties as needed.
It always reminds me of Mike saying when things go rough during a real estate transaction: "It's Real Estate!"
And with this pandemic running rampantly through our lives, if you don't settle down and ride it out, the only real estate in your future, will be a grave plot.
My apologies for end on such a sour note, but if you have an interest in Las Vegas CRE...
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Our discussion centered around rental properties and how they make you money over time.
The Investor said he had given up on stocks via the Stock Market because they always lost money.
(I told him about my theory that the Stock Market is nothing more than legalize gambling. He thought about it for a second and agreed.)
Anyway, he sticks to just real estate now, because he said even though he doesn't make as much money as he thought when sells a real estate property; he said if he holds them for a while, and rents them out, when he does sell, he's never lost money.
He said the trick is to buy with as little of a loan as possible. Cash is better, of course!
Thus, I remarked that, that is what I have found. I own rental property and over time the value, rents and aggravation all grow, but in the end, I have always sold for more than I paid for them.
And, if you buy correctly, that limits your downside when selling.
That made me think of when I first entered real estate under Mike Sitren, way back in 1991.
We sold HUD OWNED Homes, originated the loans to financed the buyers purchase and made money both ways!
Now, almost 30 years on, I am just selling CRE and working the rental properties as needed.
It always reminds me of Mike saying when things go rough during a real estate transaction: "It's Real Estate!"
And with this pandemic running rampantly through our lives, if you don't settle down and ride it out, the only real estate in your future, will be a grave plot.
My apologies for end on such a sour note, but if you have an interest in Las Vegas CRE...
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
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