Holding a property for 20 years or more

[David Ackerman]

Hi all. I am just wondering if anyone on this site has held a property for 20 years or more? If so, I'd love your general view on how the 20 years or more has been.

Why am I asking this question? Simple. I am just buying my 1st investment properties down in Raleigh, NC. My goal is too hold these properties for many, many years. However, I totally understand the transient nature of life. The opinions and conclusions a person has today can dramatically change from month to month and year to year.

So, I'd love to hear stories of people who have held onto their properties for long, long periods of time. And, I'd love to hear how they stayed the course through so many different time periods.

Looking forward to hearing some responses,

Thnx,

Dave

[Mitch Kronowit]

Not quite 20 years, but I purchased my first property in 1992 and I still have it. Until 1997, it was my primary residence. It's been a rental ever since and remains one of the best investments I ever made.

Over time, rents go up, values increase, while your expenses stay relatively flat. I have yet to meet somebody who has invested in real estate long-term and fail to make money, but I know a few that chased the quick buck and lost their shirts.