The One That Got Away - A Real Estate Investment Story
by Lanard
(Florida)
I can't believe I let it get away!
Years before I bought my first investment property, I came across a "handyman special," a duplex that was literally minutes from Downtown Gainesville and a 10-15 minute walk to the University of Florida Campus. The location couldn't have been better.
The owner was willing to finance with $1,000.00 down and carry a note for the difference. So, ditto the location; the financing was as good as good gets.
The property lined up pretty good. All it needed on the outside was a good paint job, but quite frankly, I don't remember much about the inside. However, what I do remember is thinking that my wife was definitely not going to like the idea of living in it while we rehabbed it.
Well, to make a long story short, I procrastinated until somebody else bought it, and every time I drive by it (approximately 2-3 times a year), I'm reminded of just how much of a knucklehead I was back then for not jumping all over it.
It would have been a good flipper but a better "buy and hold investment." To this day, I continue to kick myself in the rear for letting it get away. I'm still crying about it.
Image courtesy of Rattigon at FreeDigitalPhotos.net
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