I began my real estate career unintentionally while a junior at University of San Diego in 1977. I had a choice of buying a new car or using my $4000 for a down payment on a house. I opted for the house, and bought a second rental property 6 months later, all the while still driving my old Ford Mustang.
At that time I had no idea what an economic cycle or market condition was, but the timing of my purchases were perfect. Five years later, I finally got rid of my old Mustang and paid cash for a new Mercedes. I like sharing the above experience since it really shows how, with a little planning and strategy, a real estate investment program can change your life.
I quickly realized that I liked the analytical side of real estate investment. It was a numbers game (my children still make fun of me for being a member of Mensa), and a bit like playing monopoly (my favorite childhood game). Incidentally, I never lost a monopoly game after the age of 9.
As an investor I never ever compete with clients. A good opportunity is offered to my clients first. If they make the mistake of turning it down I will then buy it for my own portfolio. I will also never recommend a property to a client that I would not purchase for my own account.
I prefer residential income property - it's less risk than commercial and I really enjoy the clients I work with. A large percentage of my clients are thinkers - engineers, self employed, professionals, or entrepreneurs such as myself - who are willing to take managed risk but are always positive and willing to work toward the end goal.
And real estate can be risky, but I've always liked the amount of control I have with real estate. There are many negative things that can happen as property owner/investor, but IT'S HOW YOU HANDLE THE PROBLEM that can make the investment a disaster or a huge success.
Do any of you remember when the rocket fuel manufacturing plant blew up (literally) in Henderson Nevada on May 4th, 1988? I was the broker that had the multi-million dollar building in escrow...right next door. It did take some time to make this catastrophe a positive experience, but that was what ultimately happened.
Throughout my career, I have provided many different types of real estate services, including counseling, planning, and 1031 tax deferred exchanges (I won Exchanger of the Year Nationally in 1993), as well as buying and selling both on my account as well as my clients.
Most importantly, real estate investment has permitted me to raise four wonderful children (I'm not biased) from childhood through college, and in fact they all owned a property prior to age 21.
I sincerely hope this web site will provide help and motivation to either begin, enhance or problem solving for your real estate portfolio, allowing you to focus on the more important things.