After having read the Kansas City Star’s feature in the business section this weekend on real estate investors I have a statement I’d like to make:
Not all real estate investors are in the rehab business.
Overall, I thought the Star’s feature was fair and somewhat balanced. It told of the underside of rehabbing and it gave consumers other avenues they may wish to explore without having to sell their house at 60% of ARV.
But it rubs me the wrong way when it’s stated unceasingly that real estate investors rehab. Not all do. In fact, maybe less than 5% of my client base does. Not that I don’t get calls every day asking me to help a rehabber. I just don’t choose to chase those rabbit trails. I leave that to my trusty basset hound.
I understand the media’s fascination with rehabbing. It’s tangible. It’s easy to see the differences between start and finish and it is a relatively easy profession to get into…at least more so than doctoring and lawyering. It’s just not sexy or practical to follow the passive real estate investor from age 32 to 60 watching him/her exchange properties every 6-8 years and living a modest lifestyle.
But guess where I’ve found out where the real, long term money is?