Tuesday, March 10, 2009
Why Real estate and why now?
Growing up was hard for me. My mom was in and out of hospitals and we couldn't afford to pay the bills. People with money were not good people to me- I always knew how broke we were and didn't understand why others could be so fortunate and my parents had to work so hard just to get by. I was tired of seeing the stress in my parents eyes not being able to provide the kind of lifestyle they wanted for their kids. In reality, they provided so much more, I will never feel that I went without- for I was given amazing love and support. Unfortunately, I lost my mom to a heart attack when I was 18 and did the best I could to help my dad with my younger sisters. Unfortunately life had exhausted him and we lost him to cancer when I was 25. I had just recently been married when my wife and I moved into my dad's house to take care of my 3 young sisters aged 11-17. We suddenly had a mortgage that was more than double the rent we were used to. Soon after that we took in my youngest sisters best friend- we already had 3 teenagers- what was 1 more? Besides, our house was a much better option than what this poor girl was living with. So there we were 2 25 year old teachers trying to afford a family of 6. I was terrified, not only did I have to worry about my wife and I, but now was responsible for these young girls and their futures. I knew that our teacher salaries alone would not cover our newly acquired expenses, so I looked into other ways of supplementing our income. My parents had ran a vending machine business and done well, so I sent my money in to start my own business. Unforunately, I didn't realize that there are unscrupulous people out there willing to take the last of my savings and take off- the money was gone and I was devastated. Luckily, my dad's best friend knew the financial situation we were in and turned me on to a company about to go public and I had a chance to buy their stock at a ground floor level. I got my second business disaster education when the company never went public, which meant my money was gone. At this point I was distraught and definitely could not trust anyone or anything. However, as I believe very strongly in fate, my current company came into my life. It is based on education (interesting since I am a teacher :), and believes in educating people in the areas of financial literacy, entrepreneurialism and real estate investing. I had always been interested in real estate, but thought that it was only for people with a lot of money. Thus the glaring importance of education. Since finding that company and educating my self I have been able to purchase properties across the country in Atlanta, Las Vegas and here in Colorado. The last house I bought this last year (when everyone said the market was terrible) enabled me to leverage the money I make from it (over $700/month) and buy my wife her dream car. I have always said when I gained success she would be rewarded first for standing right by my side through all the tough times- she is an amazing woman! I was able to leave my job this last year and focus on investing in real estate and helping others create their own success in whatever way they choose. Real estate is a great investment, and after talking to several veteran investors (some have been investing for over 40 years), I know that this is the best real estate market to invest in in generations. My last house has a yearly return of over 38% (notice their is no negative sign:) and I continually see amazing deals every day. Real estate may not be your passion, but it is most definitely a means to enabling you to follow your passion- without real estate and an entrepreneurial spirit, I have no idea where I would be today, and quite frankly don't care- because here I am!