My Path to Notes
I grew up in a blue collar, military town in Southern California, with my parents & 3 sisters. My mother & father were from the Philippines. My dad was forced to drop out of college at the age of 18, after his father died unexpectedly. He then enlisted in the military & became a U.S. citizen for the promise of a better life. He served his country for over 20 years as a Chief Petty Officer/Electrician in U.S. Navy.
As he was approaching his retirement at the ripe old age of 48, and faced with the challenge of not only creating enough income to support his family, but also to accomplish his dream that his children would be able to have a college education. He found his calling & 2nd career in real estate investing & was able to accomplish his dream. Greatly influenced by my parents, I wanted to learn how to buy houses & manage them for income.
It wasn't easy & I made lots of mistakes. I was working as a stockbroker & financial advisor & was able to buy a few rentals here and there and was doing ok, but I still had a J-O-B. My "A-HA moment", as Oprah Winfrey would say, was in 2001, when after years of studying & struggling, the light bulb went off. Thanks to my very, very, patient teachers & mentors. I will never forget that moment, because it changed the direction of my life forever. Once I paired my knowledge of real estate with note investing, I was able to successfully quit my job & pursue my passion in real estate full-time.
Comments (5)
Ellis,
Very inspiring story. Thanks for sharing.
Michael Williamson, over 10 years ago
That is a tough question, it really depends what your strategy is. Note investing is such a broad area. When I started, I was looking for small non performing private notes on properties in my geographic area. Keep in mind I was very lucky on my first note when I started because no one was really doing this in my area. Best of Luck
Ellis San Jose, over 11 years ago
Awesome. That is quite a profit. I thought you needed a good deal of money to invest in notes - is that wrong? For a newbie who doesn't want to put all their cash in a note deal but just wants to start small to learn the ropes, what would be a realistic amount to start with?
Emma S., over 11 years ago
Hi Emma, The AHA moment was not so much about notes, it was more about using my brain to figure out the right niche for the current market cycle to avoid competition. Before that I was just trying to buy houses & struggled. When I shifted to notes, I made more money with way less work & risk. The first note I ever bought was for $850 (hard to believe I know) and I made close to $15,000 dollars. From that point on I was hooked on notes, and was my turning point. I still buy houses too, but with a strategy that is much more creative & less competitive.
Ellis San Jose, over 11 years ago
Hi Ellis, so the "AHA" moment was when you decided to invest in notes? Is that right? Can you share how much of a capital did you start investing in notes & how long after that were you able to quite your job?
Emma S., over 11 years ago