In 1985, my real estate investment career began as a second thought. While shopping for a new home of my own, a large 3 bedroom, 1-1/2 bath condo in Mesa, Arizona caught my eye. It needed some work, but it was priced right. I thought, if I could purchase this condo, fix it up and rent it out, maybe the profit could help to pay my home mortgage.
Brett Young, Founder of the "Picking Winners" course
I had never done any type of income real estate or rehabbing before, but I jumped right in, bought the condo and got dirty. When the work was complete, I ran a classified ad in the newspaper... no Zillow back then... The response was overwhelming! People lined up for a chance to rent my first income property! It rented immediately and I was off to the races. Over the next few years, I purchased 9 more condos. Rinse and repeat...
In 1990, I decided to diversify with the purchase of a fixer upper tri-plex. Little did I know that my life was about to change. The property was a mediocre investment, but through it, I met the guy who would help take my investing to the next level. One day I was talking to one of the triplex tenants. He told me that the was a contractor that did repair and rehab work. I asked him if he was interested in working with me. He agreed and later that day I went out to find my first flip home.
About one month later, my new contractor friend and I had finished the work on my first flip home. I called a realtor friend to list and sell it. The sale netted me a whopping $2500! It was better than loosing, but after taking a hard look at the HUD statement, I realized that my friend made more money on the deal than I did. So off to real estate school I went, and in 2000 I made it official and became a licensed Realtor.
My second flip home started me thinking of how I could expand my purchases. Now that I wasn't doing all the work myself, I wanted to do more than one home at a time. So I decided to run a short classified ad about needing someone to help fund me. At that time I didn't know anything about financing or private lending. Just a short time later, I got a call from a great private lender that changed my life again! Our agreement was that he would fund the property purchase and I would cover the construction costs.
And the rest is history... Now after 1000+ homes, I not only invest for myself, I help other investors find, fix, flip or lease their investment homes in both Ohio and Arizona. I have completed over one thousand income ad flip homes in my career so far. That is the short version of my real estate bio. This book is dedicated to my experiences and the long road I traveled to get to this point in time. My hope is that my words are meaningful and will help others investors find success in this industry.