Investor and BP Fan in Northern, WI, finally posting :-)

[Kevin Porter]

Hi All, 

I've been a listener for several years, and I'm doing a couple different things in real estate.  I thought I would finally post and say hello to get a sense of what other people are doing, and to express my appreciation for all the great posts I've already read and enjoyed (and benefitted from)!

I am in my mid forties, and have had two major careers in my life; I've been a school teacher and a real estate agent and investor.  I taught school in 5th and 7th grade (English) for about 10 years.  In between those positions, I've been a real estate agent and investor.  

A lot of people ask me why I went from teaching into real estate.  For me, it was not as much a choice as a necessity.  I believe that children are wonderfully important.  I believe that they deserve enthusiastic and energetic, patient teachers.  Twice in my life, I have found myself running out of patience, or simply feeling frustrated and depressed by the job.  Fortunately, I was able in each case to transition into real estate and find joy and enthusiasm in it.  

During my first real estate adventure, I lived in Las Vegas in the "hottest market in history."  In 2002 I had just quit teaching. I obviously did not realize that you need to keep making money in order to invest in real estate!  Nevertheless, through a lot of luck, some determination, and a willingness to try new things, I "hacked" into my first house.  My real estate mentor Tom Dellavalle introduced me to his friend who was making "bootlegged triplexes."  These (un-permitted) 4 or 5 bedroom ranch houses had been subdivided into 2 or 3 units each, and he was spending his time managing something like 60 rental units.  I thought, "Hey, I can do that!" and so I did.  I took advantage of a first time homebuyer program, and bought a three bedroom home with a converted attached garage with a bathroom.  The rear of the home had a large den and a storage room.  With 15,000 back from the seller at closing, I was able to build a rental unit by walling off the den and storage room, and renting the three bedroom house out.  I lived in the garage.  I had gone from paying $700 per month in rent, to making $700 a month and living rent free!

Over the next year I met some other investors and we created a system to purchase homes, fix them, and then pull cash out while renting them to tenants.  I remember at one point we counted and we had put out over 100 offers during that week.  That year we purchased 15 houses, making an average profit of about $20,000 per deal. 

Times changed, I moved to Reno, and started my own real estate brokerage.  I was hired to work at Intrawest on the Westin Verasa in Napa as the Director of Sales, and then traveled to San Diego to operate the resale brokerage at the Hard Rock Hotel, and then to Cabo San Lucas, where I led the sales team for the Auberge du Soleil property at Punta Ballena.

The real estate crash coincided with a decline in my enthusiasm for the real estate lifestyle, and so I went back to teaching, and taught at a great charter school in Reno Nevada, the Honors Academy of Literature, as well as in Amador County California.

Now, I find myself back in the real estate field.  Having learned some lessons, I am no longer as interested in the quick flip as I used to be.  I am finding a lot of joy in the process of helping other people meet their goals.  And I am finding that working on my own properties is one of the most enjoyable activities that I've experienced in a long time.  There is a deep satisfaction for me in having the money to do work on the property that adds value.  I love taking a property that had been abused or neglected, and seeing it turn into something special through good decisions, and quality craftsmanship.

I feel grateful and blessed to have found my way to this fun, creative corner of the world on it's biggest lake, and I am super excited to be beginning the next chapter of real estate fun with my fiancee and friends in Northern Wisconsin.

Thanks to anyone who read this.  I hope it wasn't too long.  I appreciate knowing you and hearing about your stories as well.  If there is anything real estate related that you have questions about, that you think I might be able to answer, please ask.  I'm quite experienced in real estate agency and sales, deal analysis, and coming up with creative solutions to property rehabbing.

Happy Real Estating!