Wayne Xie introduction

[Wayne Xie]

Hello,

Just want to introduce myself to the forum. I have been a listener to bigger pockets podcast for a long time, heard a lot of great investors stories and met a few in person. I have been a member for sometime on this forum but have just been a lurker. So decided to change that and participle more. 

My name is Wayne Xie, I am base in Seattle Washington. I have been in real estate for about a 10yrs now. Always wanted to get into real estate since the late night informercials, about making money in real estate. With no one in my family in the business, the only way and best way was to get my license and learn bout the industry at that time.   

After getting licensed in 2011, I started out in commercial real estate. Learned CBA and how to search for property owners and skip trace (at that time, white page) for contact. I was mainly doing leases in the commercial market. I have realized that investing into real estate would be the way to go, but I do not have any money to invest into a multi million dollar commercial building, so I switched to residentials.

In 2012 I have joined a smaller real estate firm at the time to be a residential agent. Learning everything new again with the NWMLS and contract forms. As I have started my journey, the first few years was working with buyers (as my manager told me it would be easier) As I continued, my ambition was always into investing. As most firms do not teach their agents about investing, I was still every nervous about investing so my first investment deal I partnered up with a more experience investor, we JV on a deal he had found. I put up some of the money I have saved up from the previous few years. We ended up not making any profit but I have learned a lot from the experience. The following next year, I have come across another deal (at the time there was lot of bank owns) I decided to invest into it on my own. With some help from family members and the rising market, my first investment deal was a success.

I am not a big risk taker, so I was comfortable flipping a few properties a year. After a few years, I have learned that flipping was good but after you slaughter the cow, you got to go out and hunt again. Along with seeing some properties I have sold in the past, worth 2x - 3x more today if I had just let it sit. So I learned that to buy and hold and building up doors is the true wealth. In this last few years, I have continued the journey with properties I do not want to hold, by wholesale to other investors or fix and flip them, but my long term goal is to buy and hold more doors and move into commercial properties.

Today I am building my portfolio and continue learning, being an agent to help educate home buyers and new investors. From my own investment experiences, I have done some BRRR, owner financing, subject-to, lease option, wholesale, fix and flip, general contractor company and learning more departments on the way.

Looking forward to learn and connect with other investors on here!

-Wayne xie