Investing In Real Estate

Dated: 10/30/2016

Views: 108

Investing in real estate

Rising Sun Tavern – Fredericksburg, VA

The Rising Sun Tavern is a historic building in Fredericksburg, Virginia. It was built in 1760 as a home by Charles Washington,younger brother of George Washington, and became a tavern in 1792.

History

This house, built by the younger brother of George Washington, was a popular stop for many, including John Marshall, James Madison, Thomas Jefferson, George Mason, and John Paul Jones, among others, during the American Revolutionary War. It was the site of George Washington's "great reception" after the Battle of Yorktown. It was also the site  of the first meeting of the Virginia Chapter of the Society of Cincinnati in1783. The property was sold to Larkin Smith in 1791 and in 1792 was bought by Colonel Gustav Wallace who turned the building into a tavern.

The Association for the Preservation of Virginia Antiquities, which is now called Preservation Virginia, purchased the building in 1907 and it was given to the Fredericksburg Branch of that group to operate. In 1933, the Society of Cincinnati hosted a Sesquicentennial celebration on the property and presented Preservation Virginia with a bronze medal in appreciation of their preservation efforts. The building is filled with period furnishings and stories of early life in Fredericksburg. In mid-2012,Preservation Virginia signed an agreement passing ownership to the newly created "Washington Heritage Museums" group by 2013. The site continues to be open as a museum.

It was designated a National Historic Landmark in 1964 and added to the National Register of Historic Places in 1966.

No longer serving food and drink, "Tavern Wenches" and male "Indentured Servants" provide visitors with a lively interpretation of eighteenth-century tavern life.

Did you know that this residence is worth between$550,000-$600,000. Not too bad for a home that is 250+ years old and is only 3beds 1 bath 2,514 square feet! Just think what the value of real estate properties can be in 10 years, maybe 15 or 20 years from now.

Thinking about investing?

Buying real estate is about more than just finding a place to call home. Investing in real estate has become increasingly popular over the last 50 years and has become a common investment vehicle.

Although the real estate market has plenty of opportunities for making big gains, buying and owning real estate is a lot more complicated than investing in stocks and bonds.

Come talk to our team, we can help along the way. From getting funding, to purchasing, to fixing it up and to help you manage the property, we can do it all.

Blog author image

Jayne McNulty

You don’t choose a home because you love the paint color. No, an investment this big demands in-depth knowledge so that you can buy with confidence. That’s where I come in. As an agent with Berk....

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