My wife and I started investing in buy-and-hold rental real estate a few years ago. We are looking to sustain a very comfortable retirement, as well as build a good additional piece to our legacy. Having abundance to us, means we have more to share or give away. We've been able to build a small nest egg, through some traditional employment we've had. And, we were able to leverage some of that to get us started. We're also helping other people create additional income from home. But, for now, I want to relate a story that just happened to us today, about our real estate.
We've owned this one building for around 2 1/2 years now. We are not slum landlords by any means. Rather than take all possible income out of a building, instead, we treat it as the valuable long-term asset it is. When there are repairs, or upgrades that need to be made, we invest in them. We still take a profit, so we still have to weigh whether an investment is prudent now, or can wait a little bit of time. But, we keep it on the plan, and do what is needed.
We have also developed a rapport with our tenants. From the moment they apply, we try to connect with who they are, and what they need, for a home. In fact, some form of the word "home" can be found in the name of each building's LLC. We've also shown some pay it forward kind of acts. We have gifted baked pies to all of our tenants on Thanksgiving. It was inspiring to us, when we were buying the pies, and whipped cream to go with them, in the store, a woman asked if we were having a party. Why were we buying so many pies. When we told her that we were buying them for our tenants, she told us to wait. She ran off into the store, and came back with a bottle of sparkling apple cider, for each of the pies, paid for them, and gave them to us to include.
As great as that is, there's more. Today, as my wife was collecting rent from one of our tenants. The tenant told her that this was the last time she would receive that amount from them for the rent. Curious, my wife asked the tenant what they meant. She was then informed, that starting next month, the tenants were going to pay us an additional $50 a month. They went on to state, that they appreciated the way we treated them, and, the building they consider their home.
Draw your own conclusions, or, be inspired, and change just one thing you do. Or not. I am again amazed at the blessings received when giving has been for the big picture and providing value for others without expectation of receiving anything in return. I am reminded, again, that giving is far better than receiving. And, it's contagious. Together, let's start our own viral explosion of paying it forward, and paying it back. Any challenge will be overcome, and awesome achievements will be accomplished when more of us share our abundance, lend a hand up, and give in a true positive spirit of love.
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with gratitude and in service,
Tony Koker
A Mentor with a Servant's Heart
