My Real Estate Story

My first commercial building that I purchased for my physical therapy practice was in 2006. I bought at the peak of peaks, before the crash of crashes, we bought our building. It was a half million dollar building for 2,000 square feet back in 2006. Literally in a year and a half, it was worth half that much. People were selling around for under $250,000. I was aware of this. I wasn't thrilled about it, but it didn't bum me out because I knew this was a practice that I was going to be growing for decades, at least A decade in a decade's a long time, you know. So like for me, what we still even then enjoyed having the control of the mortgage. I think the key thing there was that we could afford the initial payment that was big because as things fluctuated in that practice and it fluctuated, that was a secondary location for us. So we were learning how to be real business owners at the time. So, like, the profits would rise and fall and there was times where we cut rent down, but we were, we were always able to pay our loan. That was the big thing. But then, you know it. Fast forward to 2018 and we actually ended up selling that business just a couple of years ago, or the building. We sold the business in 2018, but then we kept the mortgage or the, excuse me, the renter income on that. And then we decided to leverage that into buying more real estate.