How a 74 Year Old Is Kicking Your Butt!
In 2007, I met Carol at our local REIA. She was 63 years old, living in a $1500 a month apartment in downtown Minneapolis, and beginning to fade financially. She had spent around $30k on getting a "eduction" in Real Estate. I am not a big believer in the bootcamps and "gurus" that often sell their systems like they are doing some sort of highly secret business. So, I felt bad for her, and asked how I could help.
I coached her on buying a duplex and living in one side and keeping her expenses low by renting the other side. She has since done an outstanding job "house hacking" before the term was even invented. She Airbnb's the unit she lives in for a meager $56 a day, and has a "roommate" in her unit for about 10 days a month. She lives in a great property, across from a park, and has saved tens of thousand of dollars over what she would have paid to stay in the apartment, since her initial purchase.
When you picture a Grandma, that is doing what many first-time investors fear, you have it right. Sure, she has had struggles like any investor, but the courage she had to make the initial jump is what a lot of people lack. Don't fear making mistakes, be ready to laugh at yourself, and know that the number one thing that 80 year olds say they regret is not taking more chances in life.