I remember many years ago when I made an offer on an apartment building that needed work and had several non-paying tenants. The apartment market was not doing so well at the time. I saw the potential and it was close to Manhattan Beach. Friends told me I was crazy. But I knew if I were going to put my future children through private universities, I would need big income producing assets.
I took some of my savings and bought the property. I got rid of the bad tenants and renovated the property. The value of that property has gone up so many times more than the original purchase price. Yep. I am crazy.
Now is the perfect time to start your investment journey! Savvy apartment buyers know the value of a strategic approach and staying informed about submarkets. The basic process is simple and proven. Over 50 years ago, William Nickerson wrote the classic “How I Turned $1,000 into Five Million in Real Estate in My Spare Time.” I purchased the book when I was jut out of high school. I was working as a camp counselor at the time, and I would read the book at night with a flashlight. His strategy still works: buy properties with potential, improve them, sell for a profit, and repeat.
At The Ponce Real Estate Group, we've guided clients to success with this core strategy for a generation. We've refined systems to make the process smoother. Don't waste time chasing the perfect deal; focus on closing superior opportunities. Using the multiple-offers strategy is the quickest way to capture better opportunities.
Investing is about relative values, not the best value. Prices change over time—understanding relative values can be key. Write well-informed, realistic offers. Sellers will likely counter, and wise buyers learn more by writing multiple offers.
Remember, buyers can decline properties due to condition, title issues, or financing. It's a great time to buy when the market slows down, as it has recently. Fewer competitors mean better opportunities. Astute investors know to act now rather than wait for interest rates to drop.
Invest now and, in the future, you'll be glad you did. Ask those who bought five, ten, or twenty-five years ago—they paid what seemed like high prices then but can't buy those assets for the old price now. If you own an income property, selling might save you money on a bigger asset, plus more units mean more rent checks and bigger benefits from inflation.
I am proud to say that my daughter graduates this coming May from her university, and my son graduated a few years ago. Thank you apartments. I have been able to take my son and daughter to mazing places because of my apartments.
Contact us today for expert guidance on your investment journey!
Frank: (310) 503-4158 Viktorie: (424) 301-0075
Start building your future now! Stay positive. Remember, if you need a smile, I will lend you mine.
