Quote:
Originally Posted by manaboutown
A friend of mine was in the USAF stationed at SAMSO in the Los Angeles area and bought a house on the Palos Verdes Peninsula around 1970. He was a First Lieutenant and worked with another First Lieutenant with the last name of Marvel. Marvel had been stationed there prior to my friend and had bought a house for $40K the year before which was now worth $70K. Marvel then refinanced the house and bought another. Over several years he acquired 19 rental houses in the area. When the fellow made Captain he wore to the office a Captain Marvel outfit his wife had made. Lol. After a few years he resigned his commission as his houses had become worth about $650K each. Bet they are maybe $1.5M houses today!
My friend, now 80 years old, went on to obtain about half a dozen rental houses (although not in that area) which he still owns.
Residential real estate can make one a multimillionaire.
I wonder how many residents in The Villages have acquired multiple rental properties in TV over time? More than a few I will wager!
|
I also wonder how many times the government stepped in and said you don’t have to pay your rent due to the pandemic. There are a lot of rental units for sale around the country, nows the time to buy if you’re not worried about rent payments you may never receive.
We all know how Villagers love landlords and renters.