When did you know investing in real estate was going to change you life?
When did you know you could pursue investing whole-heartedly? How long of research and connection-making did it take to really see a difference in your progress??
Whether is was you seeing financial freedom, freedom with time, work-life balance....ect.? Tell me a little bit about your journey!!!
I knew that it would/could change my life in college. Planned on making our first home purchase an investment property but didn't. Got a later start in the investing game than we had planned but still did it. Personally, I would rather invest in real estate than the stock market any day. I just talked to my staff about why I think that every real estate agent should own rental property.
Quote from @Esta Ryder:
I knew that it would/could change my life in college. Planned on making our first home purchase an investment property but didn't. Got a later start in the investing game than we had planned but still did it. Personally, I would rather invest in real estate than the stock market any day. I just talked to my staff about why I think that every real estate agent should own rental property.
That is awesome, Esta! Thank you for sharing. The more I network with other real estate agents, the more I see that most are starting to have their own investment projects on the side! I would love to hear more about your reasoning for believing every agent should also own their own rental property! :)
Two reasons:
1- It is a good way to help them save/invest for retirement
2- I think that it can help agents work better with investors if they own real estate. While the experience of working with investors certainly helps, you are on an entirely different level of understanding as an agent if you have been in their shoes. Does that make sense?
Quote from @Malinda Cardel:
When did you know you could pursue investing whole-heartedly? How long of research and connection-making did it take to really see a difference in your progress??
Whether is was you seeing financial freedom, freedom with time, work-life balance....ect.? Tell me a little bit about your journey!!!
August 25 2009. Just completed Trump institute for Investing in Real Estate they used to travel the country and do free conventions followed up by further information and coaching for a fee. I was 23 at the time I had already taken the State Real Estate course at 18 years old but never got my license.
Had the education and purchased my first House Hack 1 mile from University of Maryland. I had to look at 50 homes before finding the right one. This area is build on natural ground springs and all of the homes have 1-2 sump pumps in the basements. So if power goes out flooding occurs. One of the first upgrades was battery backup sump pumps with audible alarms. I lived in basement and rented out upstairs 3 bedrooms lease/bedroom. Mortgage was $2600/mo and I was paying $180 of that. 2nd year I was profiting. I put the profits back into upgrades each year I owned it and raised the rent every year. Owned it for 9 years and when I sold it rent was $3600/mo and mortgage after refi was $1600/mo. Sold and netted $100k profit. Terrific first experience in the investing world. I now live in Chattanooga TN and I specialize in helping investors meet and exceed their financial goals while continuing to build out my portfolio/retirement plan.
Rich Dad Poor Dad in college. Purchased the first house at 22 and at 36 my wife and I now have a book hitting Amazon on 6/2/23. Built our portfolio and now our portfolio is building our future.