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Real Estate Investing

SPOTTING ABANDONED LOTS & DISTRESSED PROPERTY

spotting a dealSince making the decision to invest, my eyes seem to zoom in on every potentially abandoned lot or distressed property I pass. Possibilities for profit speed through my mind, and I feel an overwhelming urge to snap pictures and log addresses!

In my enthusiasm I tried to recruit my daughter, but sadly she hasn’t been infected with real estate investment bug.  Sigh…  So I rely on Celeta McCall, my “partner in crime,” to traverse the country roads with me.

I’ve recently been tasked with locating an ideal property for opening a halfway house for Homeless Veterans.  Ideal meaning affordable, spacious, safe and relatively close to public transportation – not to mention zoned correctly.  I love the challenge!

Real Estate Investing

REAL ESTATE INVESTING ADVENTURES

real estate adventures where He leadsAfter much thought and prayer, I’ve decided to take the plunge and finally invest in my first real estate deal [excluding my residence purchased 15 years ago]!  It’s a bit scary to take a monetary risk and possibly wait years on a return, but it’s time to take action!

My ultimate goal is to add to my retirement nest egg while giving back to the community through establishing safe transitional housing. As a licensed Louisiana real estate broker and natural snoop, I hope that I’ll be able to spot some profitable & fair deals.

Since I’m doing this ‘venture alone, the properties I plan to focus on initially are in rural areas – most have been adjudicated to a Louisiana parish for non-payment of taxes.

REAL ESTATE POSSIBILITIES

  • 2012 – Small corner commercial lot, sits adjacent to a busy hospital. Lots of potential!  Buy and hold or resale for profit.  This is my #1 choice.
  • 1989 – Small lot on a busy highway.  Potential of leasing it to a billboard company or erecting my own billboard.  Buy and hold or resale for profit.
  • 1994 – Mixed use, primarily residential lot, directly behind a large church. Potential resale for church expansion.
  • 2011 – Home in need of TLC in middle class neighborhood, appears to be occupied. Potential for owner-finance resale.
  • 1994 – Residential lot, suitable for building, in an upscale neighborhood.  Potential for resale.

Now its time for due diligence!