Match. Thud

# 14 Real Estate Man

Real Estate Man is trying to retire. It’s proving more challenging than he thought. Owning and managing buildings for a living gives you a false sense of retirement right from the get-go. Conventionally, many real estate men and women’s careers go thusly: first get a non real estate job, save some money. Then scrape up enough to make an investment over and above their 401k retirement plan which is ususlly invested in the stock market.

Wise to diversify.

Why not buy a dilapidated, triplex maybe? The property can be fixed up and leveraged with bank financing? Tax benefits? Cash flow every month? All that has to be done after the initial rehab is to occasionally fix a leaky faucet, change a couple of burned out light bulbs. Heck, future real estate people can do that themselves. Soon things are going smoothly and they’re ready for another property, then another.

At least that’s the way it happened to Real Estate Man.

He has owned over 50 buildings, almost all in Center City or University City Philadelphia. Some fairly large residential (50 units), some single family dwellings and many in between; also commercial properties almost too numerous to count, store fronts ranging from serving vegan pizza to Wiccan gifts.