How I started

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So back in 2006 my mother got advice from a successful investor that even she can invest in RE with little money. For the first deal she refinanced our house and took that seed money to buy another SFH. Meanwhile I was fresh out of high school and still not sure what to study in college, so I ended up watching closely to what my mother studied/read/watched and did. In the first year we house hacked 3 Single family houses and rented them out after. Then, with a good amount of profit we started going to seminars, Fortune Builders, Jim Rohn, etc.. We got fascinated with flipping houses, our first flip was a duplex and I believe we fixed about 7 properties in one year! We quickly incorporated and had our own construction crew. Since the market was at it's peak in 2007 and rental rates were at a high, we decided to hold on to the fixed up properties and rent them out. And then the market crashed!!! With lowered prices we bought a couple more properties. Unfortunately, our cash flow seized as almost all the tenants stopped paying rent and refused to evict. in 2009, we let go of our employees and closed our business doors. I learned so many lessons from starting a business with my mother, but most importantly I saw that the American dream is a reality. I'm a true believer to this day.

Jeffery Waicak · Answer

that's awesome! On the rto thing, I met a lady at a reia breakfast about 5 years back. She introduced herself as a single mother, with no money,  just moved in from out of state after a failed restaurant business. The next breakfast I made it to was about 6 months later. She was doing private lender financing on bank owned homes, selling  as a land contact. Anyway  she had done 5 and was supporting herself and daughter. Now has moved in to rehabs.  I can see you doing  even better!!

Travis Beehler · Answer

"The American Dream is dead" notion going around these days are mainly from people who don't understand it.  The American Dream is that you can start here with nothing, and through hard work, determination, and sound business decisions, you can not only make a life for yourself, BUT you can become wealthy.  It's happening every single day, even during the mortgage bubble bursting.

Those that say it's dead either don't know about it, or more importantly, don't want to work for it.  They tend to see things as "Well, I'm in America, I should be wealthy" kind of thinking.

If we didn't put in the work we're putting in, and just got a job and worked, do any of you think you'd be as high up economically as you are right now?

The American Dream is alive and well, and I'm living it. :)

Rosie Shaw · Answer

Interesting story :) The best part of it is that it didn't discourage you to follow your American dream :) Best of luck!

Bhekizwe M. · Answer

all the best @Julia Shevchenko. interesting story

Luke Schrotberger · Answer

Great success to you @Julia Shevchenko as you get back into the real estate game. Hope to cross paths in the REI community here in SD.  I'm based downtown and try to get to as many of the local meet ups as possible.

Julia Shevchenko · Answer

Thanks everyone for the support, and I'm very happy I could provide some inspiration. Just wanted to post an update. I have decided to focus on purchase options/rent to own investing. It is the best strategy for me to begin with, it gives me great paydays up front and the ability to establish a cash flow.

Now, I'm collecting as much detailed information as I can such as documents, scripts, and of course the numbers/data. If anyone has any advise or anyone they know that want to get out of being a landlord or needs to sell their nice home in San Diego you can give them my number. Same goes for people that wish to get into a nice house, but do not currently qualify for a bank loan. I will work to make a win-win situation!

Cheers!

Bhekizwe M. · Answer

great points @Travis Beehler

Tesfa Measho · Answer

Thanks Julia for that precious experience and you are in abetter position now than before. Keep on marching. I wish you the best.

Travis Beehler · Answer

Thank you!  Your internal fire will get you VERY far here.  Don't be discouraged if you fail here and there in real estate.  Everyone gets discouraged from time to time, myself included.  Just pick yourself up and move forward, and you will definitely get ahead!

Some people you just can't reach.  They want things handed to them simply for being born here.  It doesn't work that way.  It has NEVER worked that way here.  I don't think people understand that.

Also, you'll get a lot of friends and family chalking your success to "luck".  It's not luck.  It's you doing your homework, and making sound business decisions.  But let them think it's luck. :)

Finally.  Welcome to America!  Glad to have you here!

In celebration of your arrival, here's a picture of Arnold Schwarzenegger on the day he became an American citizen:

http://i.imgur.com/eIHq6.jpg?fb

Julia Shevchenko · Answer

@Travis

@Travis Beehler, you are so on point!I get the assumptions of people thinking that I'm part of the generation that expects things handed to them. But little do they realize that as an immigrant I have the fire and drive than the average American lacks, other than good work ethic. I feel a little sad for the born Americans that don't understand the value of their liberty, freedom, and the pursuit of happiness.

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