May 23, 2016
It started with a duplex and grew to hundreds of thousands of sq feet in commercial real estate. For over forty-five years, Richard Anderson and his wife have been Investing in Real Estate. Before real estate, Richard learned from his grandfather who suffered some significant losses in the stock market crash. He taught Richard about investing in the stock market and specifically about two stocks: Disney & Woolworth. In a few years Richard had enough for a downpayment on Seattle duplex with owner financing. The duplex needed some work, but he and his new bride were now invested in real estate. They lived in one unit and rented out the other. They were thrifty. Richard did all of the construction work, electrical, plumbing, carpentry and his wife, tended to all of the landscape and gardening. The sale price was $10,000, and the seller carried a note for $9,000. Four and a half years later they had saved some money and sold the duplex for $15,500. Not a bad return almost 50% return in less than five years. The next property was a 13 unit townhouse style apartment building with a courtyard. He and his wife now had two small children, so he converted two units into one unit for additional living space. The lessons he learned from his grandfather, made Richard a cautious investor. After some thought, Richard came to the conclusion, if a depression occurred and he lost everything, what’s the difference if you owe $1,000 or $100,000? Since then, Richard and his wife have invested in; Retail, Restaurants, Apartments and Warehouse from Washington to Florida and several points in between.