Are you Building Sweat Equity ?
Stephanie and I own a triplex in Old Kensington, a very much up-and-coming area of Philadelphia Real Estate. One of the tenants just recently moved out so we are taking advantage of the opportunity to spruce the place up. We are having a contractor come by to do some updating with the heating in the next week or so. At the same time, the basement of the building was very dirty and filled with a lot of old stuff that needed to be tossed.
Stephanie took the initiative to go by the property today and got the basement cleaned out. We had our clean-out guy meet her there to remove a whole truckload of "stuff". We will have potential new tenants visiting the property this weekend and if we showed them the basement, it needed to be improved and looking better for storage options. I did not have my digital camera with me but when I saw Stephanie with her mask on, I figured I just had to get a photo, so I used my blackberry !
It is important for Stephanie and I to maintain and build equity with all of our investment properties. Not just that, but we take pride in offering quality housing to people. If you own investment properties or even in regard to your primary residence, it always makes sense to constantly improve your properties as they are your investments. One of the best ways to do that, both financially and rewading, is through SWEAT-EQUITY !
I believe owning real estate is a fantastic way to plan for retirement. Imagine when you are 55 or 60 and you own 5 or 6 (or even 10) properties with no mortgage where you are collecting income and have substantial equity ! That is our minimum goal.
What is your experience with investment properties ?
Are you building sweat equity ?
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If interested in buying or selling properties in Philadelphia or building a portfolio of investment properties, contact Chris and Stephanie Somers at thesomersteam@yahoo.com or 215-400-2612 . You can connect with us on Facebook and Twitter . For investment properties, check out our new investor site at Philly Investor Hub !
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Areas of specialty include Northern Liberties, Old City, Center City, Fishtown, Graduate Hospital, Art Museum, Queen Village, Pennsport, Old Kenington, Port Richmond, Bridesburg, Society Hill, Loft District, Spring Garden and more !
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