Apr 14, 2017
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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