Episode 83 - If you ‘can’t break it’…you must invest.
/Bob DeLong was concerned about his retirement and was looking for a solution. He found that investing in apartments could create passive income. He now invests in apartments in central Texas. He is a managing member and a passive investor in several hundred apartment units.
Bob believes that the Austin ‘Class C’ apartment market is incredible or insane. Demand outstrips supply…rents are going up and occupancy is at 98%. Bob has properties in Austin and San Antonio, Texas. Prior to getting into apartments, Bob was in the engineering and construction business for over 35 years. He is a hands-on type of guy. His initial investment strategy was IRA’s and 401k’s until he realized he needed something more. His retirement lifestyle was in jeopardy. He was concerned that drawing out his money from a 401k, and not putting money back in, was frightening. He felt that he needed passive income to retire if he was going to live another 20-30 years.
Bob found an apartment mentoring and education group. Bob was initially skeptical and only made some small passive investments in other peoples properties. Over a period of time and four apartment investments, Bob began to believe that apartment investing was a viable solution for his retirement with passive income. Bob believes that having the mentoring and education group, that he joined, was the ‘game changer’. He could not have done it without them because it would have taken him years of trial and error to figure it out. After being a passive investor for several years, Bob decided to become a managing member and put his own transactions together. In the podcast, Bob describes how he operates and manages his properties in central Texas.
Bob’s contact info: bob.delong@texcelproperties.com
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