How one 475K condo turned into $2.75M in Assets in 15 yrs

[Jennifer Lee]

Hi BP

I had a post which I initially intended to describe now I did a 1031 Exchange to trade my first home (condo) into a $1M 3 story commercial flexspace (currently 6 units)

as I began to write this, it should have been the platform for it and it's actual title!

I don't think this is True Success Story, because my journey for the commercial just started.  I am not sure if it's a "succese" yet!

I just want to THANK BP and it's community for helping me through these past few short years I have been on it.  Since my joining BP my real estate has exploded  ;p

This is a copy paste of the last post Enjoy

[Jennifer Lee]

BACKGROUND

My story involves a little luck and intuition ;)

it begins with my mother ;)

I grew up in a very entrepreneurial family. our dinner conversation is always very interesting. my grandfather built and owned factories from scratch. My mom's generation was expected to join the family business. This was back in Asia.

My generation in turn also is expected to join and continue. But there is an old saying that most family business can't last more than 3 generation. Its part due to the economic and global change.

At my grandfather's last moments in life, he said something to me that resonates even today.

"I realize at 80 yrs of age, the best investment is when MONEY MAKES MONEY!"

He said that he owned factories, it means he buys machines, manage worker, deals with supplier, and global politics! But also worry if there will be a fire, a strike, utility price increases, and how to feed the workers.

He said the best investment was when my mother started investing in FX (forex). no strike, or fire. its risky but if you do it right very profitable.

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My mom is an amazing lady. She took over the business, and ran it well. When she started investing the revenues in FX or real estate, she and my dad decided to invest 10% of their capital into what she does for the family. From there she grow very profitable. She loves real estate, so naturally she bought as many grade A single family homes she can, while my grandfather bought land!

my mom wears too many hats and self manage so she believes in low maintenance landlording. Good School, Good tenants, Low turnover. Appreciation play. They bought in different countries, currency plays too.

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this story doesn't have a happy ending....

I saw the FX market take a toll on my mom. she eventually took her own life.

I saw my moms generation fall apart after my mom past, she was the pillar and bread earner.

I also saw how Real estate saved our family. my mom's rentals practically paid for 3 children formal education and send us to the US for college. Having some money in fixed asset that is also your roof is a good thing when family feud flares.

My grandparents real estate as they sold it off has been saving the family. even this week today.

LESSON: BUY Right!!! Seek opportunities!!