I am starting this blog so I can tell my stories as well as help other real estate investors with their business. I do have a Doctorate in Management and Organizational Leadership so I am qualified to call myself a Doctor. I have also been in the real estate investing business since 2005 so I have thirteen years in my “real estate investing practice”. I actually have more than that in years because my husband and I bought our first house with an owner finance loan. Back in 1989, it was fairly uncommon to call yourself a real estate investor because we did not have the technology and TV shows like we have today that has proliferated the business term.
My second real estate purchase was 10 acres of land that was owned by a title company. It was also an owner finance situation. My husband and I were able to get a loan from a bank to put a modular house on the property and the bank paid off the land with the loan package. We had no idea that land was so valuable, but we were able to do several splits to the land and sold each lot for cash! That should have been my awakening to the opportunities of real estate investing!
The third property I bought was an acre of land that was connected to the land I purchased for a charter school I founded in 2000. Again, it was an owner financed property and I sold it after a few years for five times the original price. I was tickled pink but still did not realize the power of real estate investing…I just paid off bills instead of reinvesting the money into more land. Looking back now at the famous Rich Dad, Poor Dad teachings, I did not have a financial mentor to guide me (even though my father was a very successful veterinarian). It really was up to me to become my own mentor by reaching out to other professionals and by reading books. In today’s world, your education is at your fingertips with the Internet! No excuses now!
Prescription for today: Become your own mentor by learning, learning, and learning! And that means today and every day from this moment on!