Buying and holding has always been a way for people to create nest eggs and have more money. It also can create wealth if your purchase in areas that are getting more equity. You can live in real estate, Rent it, Sell it or even carry paper on it. There are many ways to profit from real estate, you just have to remember the old saying Location, Location,Location.
Real Estate is a great way to use other peoples money (Mortgage) to buy and hold your asset until you are ready to sale. Some people use their IRA, Private Money or just pay cash......
The issue is buying the real estate that will grow a lot in equity while you live in it. Let's look at some homes that I have helped purchase and sold.
1513 Olivewood Lakewood Ohio sold for $130,900 on 1/27/16 it was on the market for 74 days. We rehabbed it and sold it. On 6/05/18 it was sold again for $205,000 and it was on the market for 8 days. We added value to the home by putting a new full bath on the 1st floor and that really helped the equity position on this property. In 2 1/2 years it grew $74,100 nice payday.
1548 Olivewood Lakewood Ohio the clients paid $43,150 for the home on 12/11/13. The home today if they sold it and it was updated would be worth approx $140,000-$160,000. That is very good equity Growth.
Lakewood Ohio is a very fast moving city that is creating a lot of wealth for some people.
These are just a few homes we have done and as you can see they did well in the equity department. We get your real estate done.
Looking for the right home to live or invest in? I'm Brett call 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona
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Thank you