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Pastimes : JESUS and FINANCIAL FREEDOM
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To: gregor who wrote (1068)10/16/1998 12:30:00 AM
From: Barnabus  Read Replies (1) of 1283
 
I am no real estate guru, I assure you. Super small potatoes here.
After visiting kids in Colorado, I discovered that two entire shopping malls were coming down (I think they were Northtown & Cinderella City). Someone from Denver area can corroborate that. In smaller towns throughout America, former prosperous commercial sites have gone south finanacially. I was in Farmington, New Mexico and saw some of that devastation there----although that was a number of years ago---but I view commercial property risky.
The small potatoes that I have engaged in are just ordinary houses. I have found that houses can be rented whereas duplexes, triplexes, fourplexes, etc. are a little harder, unless that market has a short supply of rentals. Another thing I have found is that the plexes and apartment buildings have a vastly higher turnover rate in renters. I have had renters stay for years and years.
It takes very few houses over a period of a decade to 15 years to pay off. The renters make your house payments and when you are ready to retire, you own them free and clear.
I know this is: a) small stuff b) not quick millionaire stuff---but it does supplement your income and when you get long-term renters, a minimal amount of attention is needed.
I have had a couple of bad renters through the years, but most of them have been very very good.

May God grant you a "phantastic" and phenomenal "Phriday".

OMB
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