My main goal is to build a portfolio of $1,000,000 in 1500 days with no debt*, starting from 1/1/2013. Every month, I provide an update on my status. My goal for 2015 was to get my portfolio up to $874,353. Because we saw exceptional returns in 2013 and 2014, I have already accomplished this. Before we take a look at November, let’s talk real estate and cigarette companies.
Mrs. 1500 and I have been trying to purchase a rental property for several years now. All of our money is in the stock market and we’d like to diversify. The problem is that the housing market in our neck of the woods is incredibly hot. A couple weeks ago, we just failed in our 3rd attempt at buying an income property and our second attempt at buying a duplex.
For those of you who don’t know what a duplex is, it’s two homes connected to each other. Here is a picture of one that I stole from the Internet:
I have a love-hate relationship with duplexes. I’m all for multi-family housing, but why stop at 2 units? Go for 3 or 4 or 8! With duplexes, my thought is that the builder should have just put 10′ of space between the units and made it two separate houses.
Despite my lack of enthusiasm for the duplex design, I really want to buy one. They make great rentals as often the ROI is much better than what you can get for a single family home. Unfortunately, every other real estate investor in my area is aware of this as well.
Mrs. 1500 and I were pleasantly surprised when a really nice duplex went on the market in a neighborhood that we both love.
Mrs. 1500 and I were unpleasantly surprised when we walked over to see it and observed a mini-traffic jam of people that had come out to see the property. Continue reading