About Bonnee J. Proo
When I was first introduced to land banking , “investing in land in the path of growth,” by my friend Jenny Flynn, right away it made perfect sense. I knew immediately that this was the type of real estate investment we were looking for to aid in revamping our diminishing retirement portfolio.
I tried for years to interest my husband, Phillip, in investing in real property so that we could get a good portion of our investments out of the stock market. He never would get excited about it; he didn’t want the headaches that go along with being a landlord and having to deal with tenants. We also talked about investing in vacant land. However, we had no idea as to what area or in what state to purchase vacant land where we could actually count on it as being a viable wealth-building investment.
Prior to going back to school to earn my Bachelor of Science degree in Finance, I worked in residential real estate sales and mortgage banking for about 8 years. I have had various positions from Real Estate Agent to Mortgage Loan Underwriter. I certainly know the value of investing in real estate.
I moved back to my home state of Pennsylvania to earn a degree at Penn State University in my early thirties. My plan was to re-settle back in Pennsylvania upon graduation. However, when that time came, I found it too difficult to re-assimilate myself back into the east coast way of life after living in California for 9 years.
I returned to California to continue in the mortgage banking field but found interest rates in the 9-10% range and the real estate/mortgage industries in a slump. So I decided to pursue my college minor (accounting) and spent 19 years as a Corporate Accountant in various service-related firms, mostly health care and biotechnology.
Currently, my husband and I are invested in 3 land parcels. The more I learn about the concept, the company, the people involved, and the area where we are investing, the more confident I am that this is an excellent investment, as well as career choice. We live in a country with a very unstable stock market, massive national debt, imminent inflation, rising taxes and a weakened dollar. There is a need for diversification in various investment vehicles. However, it’s my belief that investing in land (real tangible assets) is the optimal strategy for preserving principal and building wealth.