I have a deep love for real estate that I can’t fully put into words.
I’ve done several podcasts and interviews and been asked on many occasions why I got into real estate.
It took me a while to figure out the real answer.
It’s a deep respect for what real estate meant in my Grandmother’s life.
She’s the first househacker I ever met, although when I heard about her real estate story as a child, I didn’t know that was called househacking.
I just knew it was smart.
As you’ll see, however, her story is so much more than just househacking.
My Grandma grew up poor. Really poor.
She was raised in Los Angeles in a neighborhood known as Watts.
In case you haven’t heard of Watts, it has a reputation for being a low-income, high crime area.
It’s well-known for gang problems and the Watts riots of 1965. Since the 50’s, it’s been a rough neighborhood. It’s still rough today, although improving.
My grandma eventually moved to Glendale, California and married when she was very young.
She had three children with my blood grandfather and adopted a child as well. I’ve never met my Grandfather. Apparently, he wasn’t much of a family man. He wasn’t cut out for family life, and left when my mother was about 8.
So my Grandma was left to raise four children on her own without any help from the father.
Grandma was frugal. She had to be.
She worked at an insurance company in L.A. making about $500 a month. She owned a house that was worth $36,000 and eventually paid it off. (Smart move Grandma!)
Her car was paid off as well.
She ran into a dilemma at work where they wanted to move the insurance offices from Glendale to Costa Mesa, a more expensive area near the beach. (This is all in the vicinity of L.A.)
She got some great advice from her mother-in-law, ironically enough, that she should buy a four-plex close to the new office, live in it, and rent out the other three units.