After contemplating for a long while (at least a year), I’ve decided to add real estate investor interviews as a regular feature to our blog. There is nothing like learning from those who have come before us. I hope the newbies and even the experienced investors find this useful. I know I do!
It is fitting that our first interview is with wholesaling superstar Ryan Webber, who has been a staple on our forums as moderator and all out great guy!
Meet Investor Ryan Webber
How long have you been investing in real estate?
I’ve been investing for 4 years.
How did you get started investing?
I used my tax return of about $5,000 and partnered with my best friend. He put in $5,000, and we started buying houses. Our strategy was to rehab houses to resell, and reinvest our profits into rental property. Starting out we used mostly hard money to finance our deals. We bought a small duplex that had one side rented out, and I moved into the other side and paid rent. It took us almost 4 months to close on the duplex, and in the meantime we bought a house to remodel and resell. My partner and I, with the help of another friend that we hired, went to work on doing the rehab. After a total of about 9 months we sold the house netting us a grand total of about $1,500. A very dismal start but not half as bad as our second rehab. Through blood, sweat, and tears we fought on through the school of hard knocks. Eventually, we began to learn what to do and what not to do.
What is your focus (area of expertise)?
My focus now is mainly wholesaling. I’ve had quite a few rental properties but have sold most of them off. I am carrying the note on some properties and will probably get more as time goes, and I am also a partner in a hard money company.
How many deals have you done in your real estate career?
I’ve bought about 130 properties over the last 4 years. About a dozen of those were multi-dwellings/small apartment complexes (4-16 units).
Do you have your real estate license?
What advice would you give to a beginning investor?
Educate yourself. There is a lot of opportunity in this business, but it comes with a lot of risk. Network with and learn from experienced investors. I’ve done it the hard way, and knowledge or the lack of knowledge is a huge factor to this business. Starting out, you really just don’t know what’s really out there. Start learning about all of it and don’t stop. Obviously, you also need to act on that knowledge. Don’t be one of those “cold and timid souls who know neither victory nor defeat.” It’s better to step out there and stub your toe than never take the step at all.
What was your toughest deal?
Wow, I’ve had some rough ones. Probably my toughest was my second rehab. It was a complete disaster. On selling it we were heavily in the red from it, and I honestly questioned whether I should quit real estate or not. I had given it an honest effort and evidently there was something that I just wasn’t understanding. Thankfully, I persisted. I learned from my mistakes and stuck with my dream. I still get sick to my stomach when I drive down that street.
What would your dream deal be?
A dream deal? Anyone I make money on. I’m thankful to be doing something I love and support my family at the same time.
Is there anything else you’d like to share with the rest of us?
Real estate is a great business to develop a good income with wonderful freedoms, but its not for everyone. It takes a lot from a person to succeed in this business or any business for that matter, and if you truly decide to do this then stick with it. It won’t be a cake walk. It will take blood, sweat, and tears, but it’s worth it. It’s worth it.
Amarillo Home Buyers LP