I am a firm believer in investing in real estate. Despite the market and the economy, in Colorado, the overall real estate market has remained relatively strong, and more than once I have been thankful to have some of our assets grounded in residential real estate. But with the pros, come the not-so pros.
Recently our condo vacated, so we embarked upon the monumental task of updating and upgrading the condo. We’re talking about 10 years of deferred maintenance, so this was no small task. Before beginning, we talked about hiring some of the work to be done, but decided it would be a “fun project” for the two of us, so we did as much as possible ourselves. For five full weekends and some pockets on weekdays, my husband and I toiled endlessly at the condo, painting, repairing, replacing, caullking, installing and cleaning. Oh, the CLEANING! I wish I had taken before pictures, because the transformation was remarkable. After a month of labor, the condo still wasn’t perfect (a list of tasks for 2012 is already in the works), but it had dramatically improved.
Our wonderful property manager, Mary Miller, had it rented in less than a week, so order has been restored in the land and all is back to “normal”. If you have dreamt of jumping into the world of investment properties, it’s a great time to buy. The rental market is the strongest it’s been in years, so take the plunge! Real estate has been and will continue to be a wise investment and asset in Colorado!