The number one question I get from everyone I meet is, “how did you get into investing”, so here goes…
In 2000, I was working for a company and just knew there had to be a better way of life. I decided I would need to find a path that would take me away from the pressure of my Corporate America Rat Race job and into something I loved to do, but what was it?
I loved looking at houses when I was in the market for one, so that had to be it….Real Estate. Was I going to be a Realtor? Sure didn’t want to go back working for someone, so after a late night info-commercial (yes, I know, pathetic), I decided that I too would become a Real Estate Investor like that guy on TV. After all, he said it was easy, so I did buy the course even though I knew it would take W-O-R-K, TIME, and KNOWLEDGE.
I was off and running, or so I thought. After two years of utter fear, studying everything I could get my hands on regarding real estate investing, I finally pulled the trigger, and did my first deal, which made me a whooping $500! Woooooo hooooooo…………………….Would you believe it was a pivotal moment because that money was money I made on my own as a REAL ENTREPENURIAL!
Now, the question was, would it be the first or last pay day I ever had as a Real Estate Investor?
Having bought and sold over 150 hundred properties, been involved in hundreds more through consulting, mentoring, and coaching, while having survived the worst real estate market I have experienced, I can happily say, it was the first of many more pay days.
During 2008-2012, while lots of investors were sadly going under right and left, giving properties back to banks, I continued to buy properties, take courses, and be mentored by the best in the industry that had been through many real estate cycles. My fear of going under like other hard working, smart investors is what kept me making very safe, and secure investments. I never paid anywhere close to what people were paying in the height of the market because by that time, I had earned myself a reputation of always doing what I said I was going to do, so a lot of leads came to me first instead of ever making it to the general public.
Later, when people were scared to buy I realized, I had barely any competition and this would be the time to take on the scariest of the scariest, “historic home renovations”, and boy was there a huge demand for these homes where I lived. No one, even the few investors’ left standing, wanted to touch these renovation beasts, but being bored with every other type of property, I felt I had graduated and could handle this level of restoration. While prices were plummeting all around me, I created a niche, and was able to not only hold values after a massive housing price slaughter, but depending on the type of home, I was able to drive up the price.
Why do you think? It comes down to the basics of business, “Supply and Demand”. I knew from major market research, being in the trenches, and having a strong network, that yes there were still buyers out there and they couldn’t find what they wanted, so I made sure I gave it to them. Hard to believe you say? Historic homes are the hardest type of renovation you can ever do. Most that attempt it fail because they rob the house of all of the character that people looking for historic homes want. There is a fine balance in combining new amenities with historic charm.
How did they appraise? When you are dealing with a niche market, it is like selling a custom built car, people will pay for what they want if they can’t find it, and a lot of times that means with cash. Clearly, my clientele had deep pockets, knew what they wanted and didn’t want to waste their time and money on revitalizing a historic home. I still continued to renovate other types of properties, but my passion was for the historic homes.
“As the market continues to change, I will continue to be involved in hundreds of transactions by wholesaling, rehabbing, consulting, partnering and training, but most importantly, being in the trenches by selling or renting properties I am partnered on, and my own properties.“
What I provide to my clients, who can be a Seller, a Buyer, or a Real Estate Partner is knowledge and expertise in real estate investing for over a decade, with lots and lots of transactions under my belt during the scariest of times, in which a lot of people are still trying to recover from and hopefully will soon.
It doesn’t matter if you are burnt out, new to the game, a lousy rehabber, seasoned, successful or just plain curious, I encourage you to learn about the wonderful opportunities real estate investing can offer people. I am sure not the sharpest tack in the box, so if I can do it, you can to. Please stop in and learn, ask questions, and just try something new.
To all of my sellers and buyers who have helped me build my business through referrals, I thank you. I thank all of the Attorneys, Private Money Lenders, Partners, Brokers, Contractors, and most importantly my staff for all you do! Thank you!
I Can Help!
It doesn’t matter if you are burnt out, new to the game, a lousy rehabber, seasoned, successful or just plain curious, I encourage you to learn about the wonderful opportunities real estate investing can offer.
Learn more about how to earn more flipping real estate? Contact me today!