those of you that don’t know, I can’t sit still. I am constantly learning, trying new things, and exploring new ideas. Over the past month, one such idea has settled in a bit better than the rest. That idea is investing in real estate. I know, I know, it’s a big idea!
looking at real estate a little closer after my parents just recently obtained their real estate licenses. Both did this as more of a keep busy activity as they are creeping up on their retirement years. Still, if it is something they can tackle in their late fifties and early sixties, why couldn’t I do it? One could argue that logic is flawed (I see the flaw myself)! On the other hand, I do have a little extra cash in the savings account that isn’t working as hard as it could. Maybe real estate is the answer.
Like most things
that interest me, I dove right in. I’ve read three books in the last four weeks, listened to two podcasts, found a great website on all things real estate (www.biggerpockets.com), and have even found a partner that is excited and ready to invest. All things considered, I’d say that is a lot of progress in a thirty-day window. I dare say, it’s the most progress I’ve made on any one of the side hustled I’ve attempted.
is as complicated as you’d like to make it. Well, that’s my assessment so far anyway. We started with the idea of buying a home in a vacation hot spot. Southwest Michigan to be exact. The beaches are great, they have wineries, and it’s a great location for a long weekend getaway for many families in the Midwest. So, my partner and I drove over, met an agent, looked at about eight houses, and left deflated. What we learned is that the zoning laws in our ideal location do not allow short term rentals and the price point is twice as high in the neighboring community with the zoning laws that will work.
for work for three weeks in a row, we haven’t been able to align on our next steps in our real estate adventure. What I can say is that I’m half way through another book learning more by the minute on strategies and investment opportunities. I will keep you posted on how things go on this new real estate hustle! And, for those you of you thinking about real estate as part of your portfolio, please do check out www.biggerpockets.com (nope, I’m not making a penny by sending traffic their way. It’s just a good site!).