Since 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!
After 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!