If you have been in the real estate game for awhile, you are no doubt aware that most of the world thinks that there are two different kinds of uses for real estate: buying and then subsequently flipping it, and ignoring it altogether. And while these are both solid options for many people to use, there are other options that you might consider, especially if you are willing to put some effort into the place beyond putting up a “for sale” sign out in front of it. If you are the type of person who is willing to invest some effort as well as some money into making a property into something better than what it is, you can actually do very well without selling the place at all. But of course, it is going to require exercising some responsibility.
A lot of people just want to buy a place, and then get rid of it as rapidly as is humanly possible. And while this is often a very functional strategy which can generate a lot of cash (or at least produce a very sizable tax deduction if it does not work), it is far from the only thing that you can do with a piece of real estate. Believe it or not, some people actually live and work inside of buildings that they own. And while this strategy of owning and using the property might fly in the face of the standard model of real estate, sometimes it works to be a bit of a contrarian.
Another great thing that you can do with real estate that a lot of people often ignore is renting it out. And if you can find a good property manager, you will not have to worry about tenant acquisition, or about the day to day things that make a lot of people swear off real estate and spend the rest of their lives telling horror stories about it.