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Ken Powell
  • Real Estate Agent
  • Lusby, MD
35
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55
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Networking in Hampton Roads

Ken Powell
  • Real Estate Agent
  • Lusby, MD
Posted May 30 2015, 06:43

After a year of learning and hesitating I purchase my first home in July of 2014 using Seller Financing, in January 2015 I purchase a rental property in Norfolk using Seller Financing again. I just acquire another in Chesapeake using Lease Option.  I used less than $7,000 of my own money to acquire these properties.  Not much to brag about but I now have the confident that I can succeed at my goal of owning 500 rental units by 2025.  
I learned that your ambition and desire to fulfill you Dream should be bigger than your pride. I was first afraid to borrow from friends, family and acquaintances because I did not want to be seen as poor or unable to get a traditional loan because of credit issues.  Thank God I had the courage to asked.  Another important lesson was to listen less to "Gurus" and figure out what kind of investor you want to be. Then find out what knowledge and resources you will need to excel.  Make BP a weekly(daily if possible) learning tool, network, and always be professional. 
A word of advice, the people you expect to support you the most is usually the ones that will not be therefore you.  Sometimes people don't believe you can succeed at a task or goal because they don't believe that they could succeed. They will tell you a million reasons why you will fail but don't listen to them.  Focus on your goal. Never quit but be wise in acknowledging when to make necessary changes. 

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