Thursday, January 26, 2017

Room with a View, Today. Cash Cow, Tomorrow.

by Osman Parvez
Here's a pic from my closing this morning. 

My buyers were downsizing. For now, they plan to use this 2 bedroom condo as their primary residence. They look forward to the lack of maintenance and lock n' leave lifestyle. One day, hopefully not too far into the future, they'll retire and turn it into an income property. It should do very well. It already has an eye popping cap rate.

This is the second closing this month that checks two boxes:  For now, an excellent primary residence but one day, an income property.  I love starting the year off on a roll. 

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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

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