I inherited an apartment building from my great uncle Mike, who I never actually had the pleasure of meeting.
Apparently my parents bragged about me to him in their phone calls with the reclusive sibling, so he was a fan of my achievements from afar.
I was very humbled and flattered he had left me something so valuable, but at the same time I had no idea what I was going to do with an apartment building. I didn’t know anything about business, nor did I have any interest in being a landlord. Thankfully my dad had some experience with the business of corporate rentals and he came to me with some really good ideas. He proposed that instead of renting out the apartments as month to month rentals, that we look for some corporate contracts. Large corporations are constantly sending employees all around the world, especially to a city as big as ours, and there was always a need for corporate housing. We could clean up and fill up a few floors worth of rooms and offer them as furnished short term rentals, or even extended stay rentals in some cases! Dealing with contracts with large corporations basically gives us a downside guarantee of being paid even if the corporate apartments are empty for periods of time. So while my dad went out to make some deals with big companies, I started turning these old, dusty apartments into fully decorated and furnished rentals. I hope this idea pans out, because the world of corporate housing could be my meal ticket!