Posted by Dustin 21 August, 2008
Photo by MNS007
I had the pleasure of meeting a real estate investor local to the DFW area, and he graciously accepted my invitation to speak candidly about his experience:
Happiness is Better: How long have you been a real estate investor?
Gregg: I got started in January of 2006 when I bought my first house on a short sale. I have had 2 different renters since then and hope to be cashing out on this house within the next year.
Happiness is Better: People talk about being a real estate investor or they talk about wanting to open a business. The fact is that most people never start their business. What got you to act on this desire?
Gregg: I think that really comes down to an individuals personality traits. You have to be willing to take some calculated risks and you have to be a go getter. You can sit around and read lots of books about other people’s success in real estate but if you don’t get out there and implement what you have learned than you are just reading for entertainment.
Happiness is Better: How did you get going?
Gregg: I started reading about different forms of real estate investing and trying to learn as much as I could from books. I also made sure that my finances were in order so I could get off to a solid start.
Happiness is Better: What are your long term goals for your business?
Gregg: I would like to grow my business to the point that it is self-automated and can run itself without me. I feel like investing is a means-to-an-end and that the end for me is doing less work and spending more time with my family.
Happiness is Better: What sort of investing are you focusing on?
Gregg: Right now I am only focusing on buying homes using seller financing. I target homes with lots of equity to accomplish this. I also find wholesale deals along the way.
Happiness is Better: Do you have any business partners?
Gregg: Just my wife. We run a family business so my family fills the roles of partnership. I do think that everyone needs someone to bounce ideas off of.
Happiness is Better: Do you advertise? If so, what avenues of marketing do you use?
Gregg: I use a company called Sales Team Live that does all of my marketing for me. They get the list and mail postcards to the list. All I do is provide the zip codes and the median house range that I want to target.
Happiness is Better: What type of property are you looking for?
Gregg: I look for single family homes that are free and clear and in the median price range. When trying to cash out your homes, there are more buyers to choose from if you can stay around the median price range of an area.
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