My Mom & Real Estate

Real Estate investments begins with one property at a time. Often, when you hear people talk about real estate investing they are talking big numbers. You hear about the millions to be made in the market, especially now when everyone is buying. You hear stories about the people who own 50 or more single family homes or bought a package of 10 investment properties. You hear about the people who syndicate large apartment deals or buy a smaller apartment complex of their own. What gets lost in the hype is that the vast majority of these investors began with just one property.

My Mom story, like many successful real estate investors, begins with one small property in Texas. It took her a while to buy or invest in property. My understanding she made lots of offers before one was accepted, and walked away from a few deals for a variety of reasons, most of which had more to do with fear than with the numbers. Finally, one of her mentors looked her in the eye and said, “buy this property or I will buy it myself.” So Mom bought the property that no one else would buy.

My Mom once said, “Every successful investor has a story.” Well truth is most Investors are just like you, and me: scared of making a wrong choice, but are determined to change their finanical situation. Another thing my Mom would say, “find a mentor you can trust;” following their advice, makes that first purchase easier and more successful.”

Her first rental investment property down in Houston was a diamond in the rough. Once cut and polished, she captured $36,000 in equity and a cash flow after all costs of $429.00 month – this from a house that no one wanted to buy! I remember her mentor telling her, “Someone lives in every house on this street and someone will live here too. The question is, will you be the one who profits from it?”

The next house came shortly after with an equity capture of $21,000 and $324.00 month cash flow after all expenses. The third house represents an equity capture of $27,000 and $290 month in cash flow. All of these properties have an ROI of 43% per year or more.

A picture is forming, right? For most of us, it is not one big deal that takes us from a J-O-B to retirement. It is taking the first step and following the correct road map that leads you to the retirement of your dreams. 

Question: What are you working towards?

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