Invest in Your Future by Becoming a Landlord in Grand Junction
Have you ever considered investing in income properties in Grand Junction? In doing so you'll become a member of a very elite group - the Slumlord. That's what I call myself, anyway.
They aren't making more land, and as a result, real estate is an effective way to earn extra cash. This opportunity just appeared on the market in Grand Junction and may represent a wise investment for you.
The Joys of Being a Landlord
Do you enjoy getting phone calls from the police at 2:00 in the morning? Who doesn't? How about performing an endless stream of tasks such as fixing plumbing, cleaning carpets, and patching holes in walls?
Actually, it's not all bad. Imagine building equity in a property while someone else forks over the money each month for the mortgage payment. Eventually, you wind up cash flowing. Someday, with any luck, you're raking in profit. In the long run, you can continue to collect monthly income or sell and walk away with huge earnings. None of this will happen overnight, but if you can hang in there, it will happen.
There's a small apartment complex on the market in Grand Junction that might be the very opportunity you've been searching for.
It Takes the Right Property
It's really a matter of holding out for the right property. In my case, I'm something of a master at purchasing the "wrong" property. This is partially out of inexperience, impatience, and limited resources. I had to start somewhere, and I couldn't come up with the down payment needed for an apartment complex. I had to begin with older, smaller houses with far less potential for a quick turnaround on cash flow.
Just Went on the Market
These two buildings just went on Realtor.com in early November 2021. They are a pair, and will not be sold separately. You'll find them within walking distance of Colorado Mesa University, Stoker Stadium, and a bunch of North Avenue area restaurants.
The two buildings, 1330 and 1360 Glenwood Avenue come with a total of 20 units, with 10 units in each building. Some are single-level one-bedroom apartments, while others are two-level townhouse-style apartments. Each of the buildings comes with a couple of two-bedroom units.
With these units, the owner pays all utilities except electricity which is paid by the tenants. Each building includes a coin-operated laundry room facility.
Something to Consider
This could prove to be an excellent investment opportunity. The buildings are close to the university. That's pretty hard to beat.
The asking price is $2,500,000. At that price, as the owner, you would be potentially looking at a $9,539 a month mortgage payment. Given its location, you could probably pull in top rent. Who knows? With good management, you could potentially cash flow from the beginning and walk away a winner.
As I always say with these posts, I'm not a real estate agent, I'm in no way involved in this sale, and I haven't a clue who the owners are, nor do I have any business involvement with them. My interests include investing in real estate, and since these opportunities catch my eye, I can't help but think you might be interested, too.
Take a quick tour of these buildings. They were built in 1970, and appear to be in excellent shape. There you go - the battle is halfway won already.