So I got a couple letters from Bank of America in the mail yesterday. This was not the notification I wanted to get. The feds recently raised interest rates and that means adjustable-rate mortgages are due to reset higher. It’s not a complete bad news story cause that same interest rate that was near 10% at the time of origination which fell below 3% for several years allowing me to take a big chunk out of the principle.
Looking back over the years, real estate has been a great investment for me. My initial motivation for buying real estate was to reduce my tax burden. Little did I know, my passive investment turned into a full-time job not job not just for me but several other people who worked for me.
I’ve been out of the active management game for near ten years but will return with I hope the same or more motivation to grow it into a multi-million dollar enterprise that will become an asset base that will last several generations. Yeah, it’s a big dream, but that is where it’s gotta start. Do you have a dream, a big dream?
~H2
