This is such a good deal you don’t care about the abandoned properties on either side of you or the houses divided up into multiple rental units by an absent landlord across the street.
When investors realize their property is losing value instead of gaining value, they stop seeing repairs and maintenance as increasing the value of their investments.
Many Nashville residents have to spend over half their incomes on substandard housing. What tenants need are good places to live: where prices are fair, maintenance is regular, and management cares about their needs.
There definitely are people who continually improve their homes over years. It seems more common for people to make most of the improvements they ever will when they first buy. And then others regain focus right before they sell.
Many people think they cannot afford or take the time to buy rental property in addition to their own homes. They focus on purchasing and maintaining their personal residences and often do quite well on those investments. However, some people really want to build their rental portfolios and need places to live but don’t have the resources to buy two houses at the same time. This summer I helped two clients buy homes which are going to be both rental properties and personal residences.
Yesterday I wrote about how I chose a career in real estate. With that decision, I did not stop my search for a meaningful, productive life. Instead, this career has intensified my wrestling with what I want my life to do for this world.
There are quite a few jobs in the world where I could be “fulfilled” in the way I grew up thinking work is supposed to be. To do this I would have to work for a non-profit entity such as a school, church, social service agency, or activist organization helping humanity to learn, worship, or improve its lot and/or the state of the world.