I sell real estate. I’ve been doing that for the past 10 years on the Outer Banks of North Carolina. It’s not my profession of choice – I just sort of fell into it (you can read more about that on my “About” page). But it’s been good to me and I’ve invested in property here and there.
One of my more recent Key West Real Estate projects is an old house (circa 1870) in Key West that I bought this past July. Over the years it has been a single residence, a church, a school, and eventually it was converted to its current configuration of three legal apartments. The place has been uglified over the years – old metal shutters installed across the front and the exterior painted a pale pink that has long since faded to nothing. But where others saw ugliness, I saw opportunity.
Since I’m retiring from real estate and leaving the Outer Banks at the end of the year anyway, the plan was to sell my home here and use the proceeds from that sale to restore the exterior of the Key West property to its former glory – then sell it at a profit. In the meantime, there were existing tenants living in all three apartments (all of whom wanted to stay, according to the Seller), so I would be receiving income from the property while I restored it.