My friend is a doctor, who recently told me about some of his investment experiences:
It was after the stock market crash of 2008. He decided to try investing in real estate after his market losses of the previous year.
There was a nice looking duplex in Ft.Rouge that was for sale. It did need some repairs, but he knew an architect who could help him to upgrade it, at a reasonable cost.
His idea was to sell it when it was ready, but reasoned that if he could not sell it at a profit, he could always rent out one half or another.
It took a little more time than he thought it would, but he took pride in its solid appearance and its potential value.
At last it was ready, and he decided to list it on ”COMFREE” because he felt that he did not need an agent. It was so pretty that it would sell itself!
But this was Winnipeg, and it was November!! There are not many people looking for a home to buy in that month.
"Well," he thought, "I will rent it!" So, he put a For Rent sign up. But, again, it was November! Not many people are looking for a house to rent, as temperature drops.
Finally a gentleman in a 3 piece suit showed up, and immediately told the investor that he would take it. My friend was so happy that he immediately accepted the $1000 in cash that the gentleman offered, for the first month's rent.
It seemed like a miracle, and he still had the other half of the duplex to rent or sell................... But he couldn't believe what happened next!
Tune in next time for the unexpected conclusion...