Summer Buying season is upon us!
I’ve had the pleasure of meeting many very successful people in my career. Some of the most successful folks I know are real estate investors. A few of them got in to real estate investing by accident, others made it a goal.
One person I recently spoke with owns several homes in Orange County, California and enjoys quite a lifestyle. She lives in a quiet cul-de-sac in a well-to-do suburb and drives luxury cars. As I waited in her grand living room, admiring her art collection, fine china and silverware – not to mention a chandelier that undoubtedly costs more than a mid-range Lexus sedan- I paid her a compliment.
“You have a very nice home.” I said.
“Pfft.” She waved her hand in dismissal.
“I bought this house for $35,000 forty-five years ago.” Downplaying a house that could easily sell for a million bucks today.
“When I bought it, it was one of the cheapest homes in Orange County-oil pipes all around. There were no stores, there was hardly anything around here. Now we have everything!”
That everything includes a mall with haute retailers, great restaurants in newer, well-maintained shopping centers, amazingly clean parks, and row upon row of well-kept suburban homes on quiet streets.
“Well,” I remarked “goes to prove that real estate is a great investment.”
“Yes,” She replied, “It has been good to me.”
Indeed it has!
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