I
did not go into as much detail with my examples for the assignment I had turned
in . As I hadn't numbered my examples and had revised my assignment several
times, I wasn't certain that I had covered six examples. From what I've posted thus far, I know that I
have covered at least seven, possibly eight.
And now for the moment you have all
been waiting for: Gravy
Investments. When Roland and I were
first married, he believed that he would be the breadwinner and we would be
able to make a living from his paychecks and that whatever income I brought to
the household would be considered "gravy" In other words, extra spending money.
So I gave two examples of
"gravy". One I had made a
comment on in a discussion post and had initially attempted to incorporate into
my assignment, but as my words were adding up, I decided to delete it and go
with something else.
Gravy Investments
I
call these gravy investments as they are
types of investments for extra spending cash. They are not investments that one can make a
living on.
1. Another way property was used for
investment in Utah was to hang onto said property until it increases in value. Last week I gave an example in reply to
another's discussion post that if property taxes are not paid over a certain amount of
time, Utah government has the authority to auction off a slice of land from
your property in order to pay the debt.
This type of investment is more popular among doctors and lawyers who
may hang onto the land until they are approached someone offering to buy the
land usually for property development.
Roland and I had acquired twelve
strips of land as one of our attempted investments. We were able to sell one piece of land for
six times the amount that we had paid on all twelve properties put
together. While they seem to hold little
value at the time of purchase, great thing about selling these small properties
is there is not a huge amount of paper work involved. Everything is legally done with a quick claim
deed. We have since signed over all
twelve pieces of land. whereas flipping
houses or renting your property would might be more profitable for your living
expenses.
2. Another way property was used for
investment for product. For example, my
grandpa had invested in land in areas where others would pay him to lease out
his land so that they could drill for oil.
My grandpa would receive payment known as "royalties". I don't know that he received enough in
royalties that he would have been able to quit his job.
Other
1. When you are a property owner, you may
choose to grow or sell product or lease the land. In my first assignment I had used the example
of leasing the land to horses or RV's. I
did not think of product until I was researching
my blog for other examples I had used.
DelEv Blueberries (here) is one example of using your property to sell
product.
I don't guess I would call that
gravy. I think it was intended as their livelihood. It's too much work to be considered
gravy. But it is an example of how to
use real estate to make profit. I had
not included this in my assignment as I have already turned it in.
2. I made reference to Roland's being a real
estate agent and how we both went about finding listings and our response. I did email my instructor a bit more detail
about that and how I had organized my files to assist with finding
contact.
I probably won't discuss my first assignment
as I hit a few highlights already. Our
reason for moving out of our rental (here) was to save money. Roland also wanted to plant a garden. I have at least 40 posts about gardening - a
forth of them just this year. I don't
know what my next post will be.