Investment Real Estate
Kelly was telling me more about her dad and how he has been building this personal portfolio of investment real estate. He started out with a lump sum when she just was a little girl and her grandfather passed away. Her dad inherited enough money to pay off his own house and have some left to invest into a vacation condo down in Florida.
They got in touch with a real estate broker at Bardell Real Estate who helped them buy a condo near Disney World in Orlando, and every summer her dad would take the family to Orlando for a 2 week vacation. They stayed in their own condo, basically for free, and the rest of the year he rented out the condo to other people who were coming to Orlando to visit Disney World or Universal Studios. Because of Florida’s nice weather, the Orlando area has lots of tourists, pretty much year round. The Bardell Real Estate brokers specialize in helping investors buy villas and other properties in the Orlando area.
After a few years her dad decided to get something bigger and they bought a nice villa in Orlando. He decided that buying property in Florida was lucrative, so then they bought another villa. Now he owns 4 rentals in Orlando and also the condo in Chattanooga. The money he gets from renting them out more than pays for the mortgages.
I really like that idea of buying real estate as you can afford it and building a portfolio. It sounds like the perfect way to build a solid future and also have someplace to go and stay for free when you want to take the family on vacation.