Unlock Your Real Estate Future: Which Stage Are You Truly Playing At Right Now?
Tony:
So at that point I continued to invest and some of the early properties just kept exploding in value, and so equity was there. So I continued to pull line of credits. I was really gearing up to have the ability to purchase more properties scale up, and I’m glad I positioned myself that way because once COVID came, there was a lot of uncertainty what would happen with real estate. And in my area, like many other local areas, real estate prices just went through the roof. So these two families or small rental properties were being gobbled up by first time home buyers because that was their only ability to get into real estate or buy a home. So now we’re competing as investors with first time home buyers and we can’t make the numbers work. So it was time to pivot and get away from two or three family homes and go into other things. So some of the more recent projects, I built an industrial garage complex, so renting out to contractors, which is a really great business, I wouldn’t mind doing that again because the tenant pool is easy to work with. Contractors storing their equipment or whatever they need to store their business for, it’s their livelihood, they’re paying their rent, there’s not much to maintain. It’s basically a square box with a bathroom That has worked out really well so far.
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