This week is going to be a bit different! A few of you brought an article to my attention that was in the Washington Post recently titled; “Owning your own home doesn’t make you rich. Owning somebody else’s does.” While the article itself may be perceived in different lights, it inspired me to reflect on why people have been investing in real estate for (well, forever) and why after having some “experience”, I continue to believe in it – the benefits!
Let’s talk about that. We are keeping it positive this week, folks.
So, as we do, let’s talk Real Estate, let’s talk REAL ESTATE INVESTING – IT WORKS …
I want to spend this morning talking about why people do choose to invest in real estate! But, before I continue, I want to make it explicitly clear that some of these points are only “good” if you are the investor. Otherwise, they may be perceived in a negative light. FULL DISCLOSURE :THIS IS NOT INTENDED TO BE A POLITICAL DISCUSSION, RATHER MY INTENT IS TO PURELY SHOW YOU A FEW STATISTICS THAT REINFORCE THE PROS TO OWNING INVESTMENT PROPERTIES. I personally do not promote excessive wealth disparity, however I do believe that this article highlights the long-term benefits associated with real estate ownership.
Now, let’s start with some data driven statistics from that Post article, shall we?!
“In the United States, more than anywhere else, wealth and income are concentrated among business owners and landlords.”
“Business owners and landlords tend to be 4x wealthier than the average American.”
“Housing costs have risen 40% more than the prices of other goods since 1970.”
“The share of renters who spent more than half of their income on housing doubled between 1970 and 2011.”
While the demand may fluctuate, there will always renters, no matter the economic climate.
So basically, what I gather from these facts is that history supports that investing in real estate works. This article focused primarily on economic and data driven facts, and while the monetary benefits are important- – let’s now spend some time talking about some of the other, non-data driven perks, that I have personally encountered this year, and why I continue to believe in it.
When you are a landlord, you are your OWN boss and, while it is a 24/7 job, you get to determine your own schedule! For example, on Tuesday’s, I like to take a hip hop-esque dance class at 9:30 am (don’t judge me) – this is something I love and may not have been able to do if I had a typical 9-5 job! I can also work from anywhere and, trust me, I have taken advantage of that! I have done more traveling this year than in the past few years combined. I always have my laptop and phone on me so I am able to work from wherever I am!
The job is interesting
There is never a dull week. We have come across so many crazy issues, and obstacles in the past year since we started this adventure. We legitimately learn something new every day – I LOVE that part.
If you like interior design as much as I do – this will definitely be a perk for you. As a landlord, you may have the opportunity to make design changes to your property; whether it be updating a kitchen or bathroom, or even just choosing a new paint color – you have total autonomy.
There can be a feel good aspect to it all! If you have a good landlord – tenant relationship, it can make you feel good about your role; owning a property so someone can make it their home! For example, we have a super sweet tenant, who is SO gracious when we do even just the little things; like sending a welcome basket, or responding to her maintenance requests promptly.
Anyone can do it
What do I mean by that? There are SO many creative ways to acquire rental properties! Not sure how to do so? DO NOT WORRY – you guys, there are SERIOUSLY so many investors, and real estate groups out there who are willing to help you/us! I truly feel like owning real estate investments is one of the only jobs where you will encounter people from ALL walks of life – and that part is really cool.
Now, as I read through this blog post for today, I take some time to reflect on that fact that I am both a renter AND a landlord! So when I read this list, I can see how a renter might be annoyed by some of these landlord “benefits”. BUT, what I think needs to be remembered at the end of the day, is that being a landlord, owning investment properties, it is a job, and it is how some people make a living. There are perks to every job – these are just some of the perks of ours! Now, what do you all think? If you do already invest in real estate, do you agree?! If you do not yet, are you convinced?!
Feel free to comment on the blog post HERE and let us know what YOU think!
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Me – this is also based on my own personal experience!