Hotel developer, R. Donahue Peebles, gives poignant evergreen real estate investing advice with Black Enterprises’ 7 Tips for Investing Real Estate Like a Pro.
One of Peebles’ best tips is #5 Expect the Unexpected When Renovating.
I can testify that’s sound advice after having rehabbed an old house. Rewarding? Definitely, but there will be surprises.
Also Peebles is absolutely right in that you should expect and get a reasonable return for your risk-taking? His ballpark figure is around 30 percent. In my book that’s the way capitalism is supposed to work.
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